Valeura Finds More Gas in Thrace

Canada's Valeura Energy has identified "significant gas shows" in the Devepinar-1 well drilled in its Thrace prospect in Turkey, the company reported April 26. Valeura said that the Devepinar well had been drilled 500 metres deeper than planned, to 4,796 m, owing to easy drilling conditions and continued gas shows from 3,730 m, which required flaring. 

The company said that the well, which was started in February, met all drilling objectives and "confirms the presence of over-pressured, gas bearing reservoir at the western flank of the mapped basin centered gas accumulation." The results had greatly increased its understanding of the lateral extent of the reservoir, it said. 

Valeura added that it had completed a first diagnostic fracture injectivity test (DFIT) on the Inanli-1 well in the same exploration block and that a second DFIT is being conducted on "a specific completion zone to establish formation fracture stimulation parameters and pore pressure prior to commencing reservoir stimulation operations."

Both wells are operated by Valeura with drilling and exploration costs shared proportionally with its partner Equinor, according to their respective working interests. Valeura reported that it had funded 31.5% of the cost of the Devepinar-1 well, with Equinor covering the cost of stimulation and testing of the Inanli-1 well.

Valeura and Equinor will now focus on interpreting data from the two new wells as well as from nine recently-drilled and eight legacy wells inherited when it took over the acreage from previous holder, Turkey's state upstream operator Turkish Petroleum, the company said. Its shares began trading on the London exchange April 25.