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Monday, August 19, 2013
In Tunisia Chinook Energy said it anticipates completing a six well program on the Bir Ben Tartar (BBT) concession. The BBT program could include two horizontal wells the company said.
Its start of the original 2013 program was delayed while waiting on government approvals and the program execution to date has been delayed by equipment availability and complications in technical results, both of which Chinook said have had a negative effect on guidance production volumes. Despite that, based on projected materially improved vertical well costs, reasonable results and longer term producing well performance, it remains confident with its booked reserves and the continued growth of BBT as the company develops this field.
BBT development wells were drilled at TT12, TT21, and TT20 with completion operations and initial testing ongoing. TT12 was drilled horizontally and is now on production at about 150 bpd with a water cut greater than 75%. TT21 was a vertical well on the crest of the structure that had good reservoir in three zones and will be completed in the third quarter. Lastly, TT20 is an extremely encouraging western extension of the booked reserve area, having encountered the thickest net pay yet in the field and demonstrating original pressure. The well will be completed beginning in mid-August.
Chinookâs El Bell onshore exploration well was unsuccessful, likely due to a loss of top seal as the company moved north and east of the BBT concession. The well cost approximately $3.0 million net and fulfilled the company’s drilling commitment on the first renewal of the one million acre Sud Remada exploration permit.
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