Business
Sugarloaf Project Operations
Sugarloaf Project Operations.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n RNS Number : 2564Y Empyrean Energy PLC 20 December 2010 \n\n \n20 December 2010\n \nEmpyrean Energy PLC\n(\"Empyrean\" or the \"Company\"; Ticker (EME))\n \nSugarloaf Project, (\"Sugarloaf\"), Block B, Texas USA\n \n \nEmpyrean is pleased to provide the following update on operations at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.\n \nLuna-1H (3% WI)\n \nThe Luna-1H well has been on production for a period of 30 days and Empyrean is pleased to provide the market with an update on the produced volumes during that period\n\n\n\n\n \n\n\nTotal Gas Production (mmscf)\n\n\nTotal Condensate Production (bbls)\n\n\nAverage Daily Equivalent Gas Rate (mscfe/d)*\n\n\nAverage Daily Equivalent Oil Rate (boe/d)*\n\n\n\n\nLuna-1H\n\n\n61\n\n\n21,570\n\n\n11.17\n\n\n931\n\n\n\n\n· The equivalent rates have been calculated to reflect value using a 12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes due to the high calorific value of the produced gas.\nThis well continues to be produced on a small choke setting with limited tubing head pressure and production declines being observed. This has led to increases in production each time the choke is incrementally opened. The average production rate over the last 15 days of the reported 30 day period was 1,070 boe/d\n \nKowalik-1R (10.2% WI)\nThis well is presently cleaning up to sales following the recent workover. Consistent with other Sugarloaf wells the Kowalik-1R well is being produced on a restricted choke setting in order to minimise decline rates and maximise recoverable volumes for each well. The well commenced flowing to sales on 11th December and the following early production data is based on the last 24 hours and provides an indication of recent flowrates from the well.\n\n\n\n\n\n\n\nGas Production Rate (mscf/d)\n\n\nCondensate Production Rate (bbls/d)\n\n\nAverage Daily Equivalent Gas Rate (mscfe/d)*\n\n\nAverage Daily Equivalent Oil Rate (boe/d)*\n\n\n\n\nKowalik -1R\n\n\n1,895\n\n\n537\n\n\n8,810\n\n\n735\n\n\n\n\n \nUrrutia-1H (3% WI)\nFollowing a fracture stimulation of 19 stages across approximately 4,400 ft of horizontal section this well has been cleaned up to sales since the 12th December. Consistent wi...