Business
Q3 Operational Update
Q3 Operational Update.
About this update from Block Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3273O\n Block Energy PLC\n 07 October 2021\n \n \n \n \n 7 October 2021\n \n \n \n \n \n Block Energy plc\n \n \n (\"Block\" or the \"Company\")\n \n \n Q3 Operational Update\n \n \n Block Energy Plc, the exploration and production company focused on Georgia, is pleased to announce its operations update for the three months ended 30 September 2021.\n \n \n Highlights\n \n \n · Over 130,000 operational man-hours worked in Q3 2021, with no LTIs\n \n · Well WR-B1a is undergoing clean-up operations and testing\n \n · Preparatory work on the second well in the 2021 drilling programme, JKT-01, is progressing well\n \n · Q3 production of 34.6 Mboe (Q2: 42.6 Mboe)\n \n · Q3 revenue of $901,000 (Q2: $1,165,000)\n \n o oil revenue of $742,000 (Q2: $960,000)\n \n o gas revenue of $159,000 (Q2: $205,000)\n \n Health and Safety\n \n Over 130,000 operational man-hours have been worked by staff and contractors in Q3, and over 300,000 in the nine months ended 30 September 2021, with no lost-time incidents.\n \n Drilling Operations\n \n \n \n \n During the quarter, well WR-B1a was successfully drilled to a total depth of 2,483m, penetrating 478m in the target Middle Eocene reservoir in the West Rustavi field.\n \n \n \n \n \n The drilling of WR-B1a benefitted from the partnership with Baker Hughes, signed in June this year, as well as the high-quality 3D-seismic data obtained in 2019. Detailed engineering analysis supported placement of the well to optimise recovery, while reducing execution costs and risk. \n \n \n \n \n \n The well is currently undergoing clean-up operations to recover drilling mud components from the fractures. Oil and gas have been produced to surface. However, it is believed that well productivity is being restricted owing to the natural fractures being clogged with loss circulation material used to prevent the large drilling fluid losses experienced in our previous West Rustavi wells. A thorough clean-up programme has been designed to dissolve the loss circulation material, requiring chemicals with a 14-day lead time to be sourced from a supplier outside Georgia. The results will be published once the clean-up programme and production testing have been completed.\n \n \n \n \n \n Preparatory work continues on JKT-01, which is in lice...