Business
Operations Update
Operations Update.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7987D Empyrean Energy PLC 01 May 2013 \n \n\n2 May 2013\n \n \nEmpyrean Energy PLC\n('Empyrean' or the 'Company', (EME))\n \nOperations Update\n \nRiverbend Project, onshore Texas, USA\n \n· Operations commenced to re-complete the Cartwright-1H well at Riverbend\n \nEmpyrean Energy Plc (AIM: EME), the condensate and gas producer, provides the following update on operations at the Riverbend Project in Texas.\n \nEmpyrean is pleased to advise that it has been advised by Krescent Energy Partners II LP (\"KEP II\"), the operator, that re-completion operations have commenced at the Cartwright-1H well.\n \nThe re-completion is expected to take a number of weeks. \n \nBackground\n \nAs previously announced on 19 March 2013, Empyrean has received, and elected to proceed with a proposal to re-complete the Cartwright-1H well in the Wilcox interval between 9584 feet to 9590 feet in vertical depth. The Wilcox interval is shallower than the original Austin Chalk target and KEP II interprets from petro-physical analysis that it may be productive. KEP II has also interpreted from seismic that the Wilcox zone of interest appears to be stratigraphic in nature as no structural closure has been mapped. \n \nThe existing well has a downhole obstruction that is currently limiting production to sub-economic flow rates from the Austin Chalk zone. The operator will re-enter the existing well bore and set a plug above the downhole obstruction and then proceed with operations to perforate and test the shallower Wilcox zone. The anticipated cost of the operation is approximately US$125,000 - US$200,000 and therefore Empyrean's share of these costs is expected to be in the range of US$12,500 - US$20,000.\n \nKEP II believes that a successful re-completion in the Wilcox zone of interest would deliver flow rates in the range of 30 - 40 barrels of oil per day and 200,000 - 250,000 cubic feet of gas per day. KEP II has advised that future operational plans will depend on well response to the re-completion operations.\n \nEmpyrean will make further announcements to update in due course.\n \nThe information contained in this announcement was completed and reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has...