Business
Further re Sugarloaf Update
Further re Sugarloaf Update.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6307K Empyrean Energy PLC 19 July 2011 \n\n \n19 July 2011\n \nEmpyrean Energy PLC\n(\"Empyrean\" or the \"Company\"; Ticker (EME))\n \nSugarloaf Project, (\"Sugarloaf\"), Block B, Texas USA\n \nEmpyrean is pleased to provide the following update on operations and production at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas. \nProduction Data\nThe following well has been on production for a period of 60 days and Empyrean is pleased to provide the market with an update on produced volumes during that period:-\n\n\n\n\nWell name\n\n\nWorking Interest\n\n\nTotal Gas Production (mmscf)\n\n\nTotal Condensate Production (bbls)\n\n\nAverage Daily Equivalent Oil Rate (boe/d)*\n\n\n\n\nPMT #1H - 30 day\n\n\n1.11%\n\n\n119.7\n\n\n5,562\n\n\n850\n\n\n\n\nPMT #1H - 60 day\n\n\n1.11%\n\n\n231.3\n\n\n8,586\n\n\n786\n\n\n\n\n*The equivalent barrels per day production rate has been calculated on a simple 6:1 ratio. \nThe boe numbers in the above table do not account for any NGLs which are now being stripped from the wet gas production stream. The production totals are generated from data gathered through metering at each wellhead and the NGLs are subsequently stripped from the gas production at a processing facility near Houston. Empyrean conservatively estimates that the NGL stripping process yields 80 - 90 bbls of NGLs per mmscf and results in a gas volume shrinkage of approximately 20%.\n \nOperations\nThe following operations have taken place since the last update.\n \nDavenport #1H (1.40% WI) - Production commenced from the Davenport #1H well on 20th June 2011 and Empyrean will provide an update on production in due course.\nBest Huth #1H (0.58% WI) - Production commenced from the Best Huth #1H well on 4th July 2011 and Empyrean will provide an update on production in due course.\nJordan #1H (3.0% WI) - Production commenced from the Jordan #1H well on 25th June 2011 and Empyrean will provide an update on production in due course.\nPfiefer #1H (1.9% WI) - The Pfiefer #1H well is located across the border of the Longhorn and Sugarloaf AMIs. The well was spudded on 13th June 2011 and reached a TD of 16,851ft on 5th July 2011. This well has now been cased and will be fracture stimulated in due course.\nTurnbull #6H (1.02% WI) - the...