Frontera Discovery Sees Major Increase in Size of Gas Field in Georgia
Frontera Resources Corporation has announced the discovery of extensive new gas resources in the undeveloped northwestern portion of the Mtsare Khevi Field within its Shallow Fields Production Unit, Block 12 in Georgia.
The discovery could increases the field’s recoverable gas resource potential by as much as five times the original estimate.
Drilling of the number-32 development well on the north-western portion of the Mtsare Khevi field, approximately 4 km away from previously drilled well #31, struck about 33 metres of gas-bearing net pay.
Testing of lowest portion of the identified pay zones yielded initial flows of about 19,000 cubic metres of gas per day on a 16mm choke, with further tests to be carried out to determine total deliverability.
The best estimate for gross contingent and unrisked prospective resources at Mtsare Khevi was assessed last year at 1.5 billion cubic feet by independent engineering firm Netherland, Sewell & Associates (NSA).
NSA’s best estimate for recoverable gross contingent and unrisked prospective oil resources Mtsare Khevi currently stands at 2.1 million barrels.
The company said that NSA will now undertake a re-evaluation of reserves potential based on the explorer’s new internal estimates that reflect additional resource potential along the untapped north-west trend of the field’s fault block found by the latest well.
Frontera said that the discovery was situated less than 10 km from the national gas distribution pipeline grid, and would serve to accelerate the addition of new infrastructure to commence gas sales.
“The successful results achieved by the number-32 well are extremely significant in that they not only serve to expand and enhance the value of the Mtsare Khevi field's gas resources, but also confirm the presence of gas in the western portion of Block 12, which may lead to further upside prospectivity,” commented Steve C. Nicandros, Frontera’s Chairman and Chief Executive Officer.
Nicandros said he believes the find also supports further exploration in the shallow fields production unit as well as in a nearby shale gas play.
Drilling operations will now continue at the #41 location which is the third of a planned 20 well program over the next 24 months designed to exploit multiple Upper Pliocene sandstone reservoirs situated at a depth of approximately 300 meters.
Source: Frontera Resources