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ENERGY NEWS

 
     
 

New zone at Porters Creek-1 improves production rate

Posted: 21 July 2005

Highlights

  • A further zone at Porter’s Creek-1 was perforated yesterday between 7342–7348 feet over a 40 foot gross hydrocarbon bearing interval and, without fracture stimulation, began producing at a rate of approximately 1.1 million cubic feet per day (MMcf/d) and up to 50 bbls of condensate per day;
  • The well has now been choked back (7/64 inch choke) to evaluate the reservoir potential and is currently producing with a flowing pressure of 3450 psi;

Antares Energy Limited (ASX: AZZ), an international oil and gas exploration and production company, announced today that the Operator of the Porter’s Creek-1 well in Texas has perforated a further zone in the well which has begun flowing without fracture stimulation, at a rate of approximately 1.1 MMcf/d, and up to 50 bbls of condensate per day. This is the upper-most hydrocarbon interval and the best reservoir development observed in this well. Only a six foot interval was perforated to allow for future fracture stimulation if required.

The Porters Creek well has been in production since May from the lower-most zone, which will be commingled with the current zone in due course. Due to mechanical requirements, the lower zones required perforation and production first before moving up to the best zone.

Mr. Howard McLaughlin, Managing Director of Antares said: “ This is an outstanding result from a further zone in this well and depending on the future production rate, may warrant an additional well. Since the flowing pressure is very high, the optimum flow rate will be determined over the next several days.”

The well is operated by Mueller Exploration and Antares Energy holds a 25 per cent working interest.

For more information see www.antaresenergy.com

 

 
     

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