InterOil provides Antelope appraisal drilling update

Thursday, March 3, 2016      
 
  • Antelope-5 extended flow test concluded
  • Antelope-6 flows at 13mmcfd

InterOil Corporation (NYSE: IOC; POMSoX: IOC) provided an update on the appraisal drilling on the Antelope field in Petroleum Retention License 15 ('PRL15') in the Gulf Province of Papua New Guinea.

Antelope-5

During February, the second extended well test on Antelope-5 was completed. The well flowed at an average of 53.3 million standard cubic feet gas per day (mmcfd) measured through a 48/64' choke for 14 days and then shut-in for over 14 days to record the subsequent pressure build-up. The majority of the stabilized flow occurred on a 48/64' choke at a rate of approximately 57 mmcfd.

Downhole pressure gauges have been successfully retrieved from both Antelope-5 and Antelope-1 (observation well) and data has been extracted for analysis.

Preliminary analysis has confirmed the excellent reservoir quality and connectivity seen in the initial Antelope-5 production test conducted in mid-2015. The forward plan is to undertake further analysis to quantify nearby reservoir properties.

Antelope-6

During the month of February, 9-5/8' liner was run to the top reservoir, four cores were cut from the upper section of the reservoir and intermediate logs were run.

The four cores were cut over an interval of 2,268 to 2,330 meters measured depth from rotary table (MDRT) and the well reached a depth within the reservoir section of 2,330 meters (MDRT). Preliminary interpretation shows approximately 12 meters of dolomite is present in the drilled section.

It was decided to conduct an intermediate, multi-rate flow test over an interval from 2,264 to 2,330 meters MDRT in the target interval. A final stabilized flow rate of approximately 13 mmcfd was obtained over a 24 hour period, measured through a 40/64' choke. The well is currently shut-in for pressure build-up.

Once testing is complete it is planned to drill through the gas-water-contact to a proposed total depth of approximately 2,650 meters MDRT and then run a full suite of wireline logs. Once logs have been obtained, a decision will be made regarding the need for further testing.

The Antelope-6 appraisal well is located 2km east-south-east of the Antelope-3 well and is designed to provide structural control and reservoir definition on the eastern flank of the Antelope field. Antelope-6 spudded in December 2015 and intersected the top of the reservoir at approximately 2,264 meters MDRT.


 

Article Tags

InterOil Papua New Guinea Australasia Operations Update Production Update Spud Watch


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


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