EEGUF - Empire Energy Group Ltd (EEGUF) Carpentaria-2H Continues Strong Gas Production
- Average of 2.6 million standard cubic feet (mmscf) per day sustained flow rate achieved over the first 13 days of flow testing with negligible decline
- Flow rate was achieved from 927m effective stimulated horizontal length indicating a normalized rate of 2.8 mmscf / day per 1,000m of horizontal section
- Peak rate of > 11 mmscf / day achieved after a 2 day shut-in to change wellheads and monitor pressure build up following which the well returned to trend production rate as expected
- Currently producing at 2.5 mmscf / day at a stabilised rate, with water flowback rate gradually declining
- Flow testing is continuing and the data collected and analysed will be incorporated into the completion design for the upcoming Carpentaria-3H on the same well pad
- Gas composition data and zonal contribution (i.e. which stimulation stages are generating the greatest contribution to flow rate) expected in coming weeks
- Preparations for Carpentaria-3H drilling and hydraulic stimulation, and Carpentaria-4V drilling, continue according to plan
- Current cash at bank A$38.7 million
Extended production testing ("EPT") of C-2H has continued with gas flowing at an average rate of 2.6 mmscf / day over the first 13 days of the EPT (a normalised rate of 2.8 mmscf / day per 1,000m horizontal section). The well is currently flowing at 2.5 mmscf / day.
Following a period of initial "clean-up", the well was shut-in for 2 days to replace the hydraulic stimulation wellhead with a flow testing wellhead and to monitor pressure build-up. During the shut-in the formation pressure built very quickly to 1,275 psi from 185 psi before shut-in, which indicates excellent reservoir connectivity. Following the shut-in, the well recommenced production at >11 mmscf / day prior to returning to a stabilised rate of 2.5 mmscf / day for the last 7 days.
Modifications to the C-2H flowback pipework undertaken during shut-in will allow the EPT to continue while Carpentaria-3H drilling commences on the same well pad later in Q3 2022.
Flow testing continues at C-2H.
About Empire Energy Group Ltd:
Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) holds over 14.5 million acres of highly prospective exploration tenements in the McArthur and Beetaloo Basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds 80% has very considerable conventional and unconventional hydrocarbon potential. The Beetaloo sub-Basin, in which Empire holds a substantial position, has independently assessed world class hydrocarbon volumes in place with a major ramp up in industry activity underway to appraise substantial discoveries already made by major Australian oil and gas operators.
Empire Energy is an experienced conventional oil and gas producer with operations in the Appalachia region (New York and Pennsylvania). Empire has been successfully developing and producing oil and gas since 2006.
Source:
Empire Energy Group Ltd
Contact:
Empire Energy Group Ltd
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net