XTRACT Updates Drilling Operations in Turkey

Source: www.gulfoilandgas.com 3/22/2010, Location: Europe

Xtract Energy Plc is pleased to provide the following update on the drilling operations of its Turkish business, Extrem Energy AS ("Extrem Energy") in the Alasehir licence area.

The Sarikiz-3 exploration well reached a total depth of 2,027m on 16 March 2010. Wire-line logging was completed on 20 March and 7" casing was completed and cemented today, in preparation for cased-hole production tests.

During drilling, oil shows were recorded in the mud-logs at a number of sandstone intervals in the depth range 1,340-1,970m and preliminary analysis of the wire-line logs provides further indications of hydrocarbons at several levels.

Well pressures and other indicators are comparable with those experienced previously at Sarikiz-2. Further analysis of the logs and other data is planned for today and tomorrow in order to prepare the work-plan for cased-hole production tests.

In view of the encouraging results from Sarikiz-3, Extrem Energy has decided to keep the drilling rig on station there for the production test. Although this will slightly delay the installation of the down-hole pump at Sarikiz-2, it will save the time and cost of additional rig mobilizations.

Based on a 2 square km area and an assumed net productive pay thickness of 20m, Extrem Energy's preliminary pre-drill P50 estimate of the recoverable oil in place from the Sarikiz-3 well was 5.75mbbl, based on an assumed 20% recovery factor. It is too early to make any updated projections.


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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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