Ascent Discovery at Petišovci
Ascent Resources plc, has successfully completed the drilling of the Pg-11A well in the Petišovci Project in Slovenia, with initial results confirming the presence of good quality gas and well logs indicated the discovery of approximately 114m of new net additional reservoir in the deeper Miocene.
The drilling rig is now moving to drill the second redevelopment well, Pg-10. Meanwhile, a workover rig will now be mobilised for a completion testing programme on Pg-11A, designed to optimise the production completions for Pg-11A, Pg-10 and other future redevelopment wells.
The company said that near term objectives are to drill Pg-10 as a second development well and for the delineation of the lateral extent of the new gas bearing reservoirs; to determine the optimum completion methodology and to commence production.
The Petišovci Project in eastern Slovenia targets the redevelopment of the major Middle Miocene Badenian tight gas reserves, which were partially produced in the 1980's.
The project has a core area in which RPS Energy Limited, an independent reserves auditor, has ascribed a P50 gas-in-place estimated of more than 400 Bcf (c. 12 Bm3; 69 MMboe). Their estimate excludes additional gas volumes which were encountered in Pg-11A within deeper reservoirs, and exclude any upside volumes associated with a number of undrilled exploration prospects within the concession. Once data from the Pg-10 well is available an updated gas-in-place assessment will be commissioned.
The Pg-11 and Pg-11A wells successfully confirmed the main technical parameters for the Middle Miocene Badenian tight gas reservoirs and also discovered the deeper gas reservoirs, which will substantially increase gas-in-place estimates for the project. The Pg-11A well logs indicated approximately 114m of net reservoir in the new section drilled between 3,000m and 3,500m, on which analysis continues to confirm the exact geological age. The top part of these reservoirs was tested openhole and flowed good quality gas.
Further tests in this section are planned using a more representative cased hole procedure following the installation of the completion by the workover rig. These results will help determine the configuration of the initial production completions for both the Pg-11A and Pg-10 wells and whether conventional completions or simple, low cost fracture stimulations of the vertical wellbores are best suited to optimise any commercial production. The Company currently has sufficient financial resources available to put these wells into production under either scenario. The use of horizontal side-tracks are not considered to be cost effective at this time.
Ascent, through its wholly owned subsidiary Ascent Slovenia Limited, has a 75% interest in the Petišovci Project. Geoenergo d.o.o., a company jointly owned by Nafta Lendeva, the Slovenia State Oil Company and Petrol d.d., the leading energy conglomerate in Slovenia, holds the remaining 25% interest.
Source: Ascent Resources