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Beach's Half Year Report Highlights 100% Successful Appraisal and Development Drilling in Four Oil Fields in ex PEL 91, Bauer-39 Production, Several New Well Locations Identified, Two Successful Gas Wells, Infrastructure Upgrades
Beach's Half Year Report Highlights 100% Successful Appraisal and Development Drilling in ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n\n\n\nBeach's Half Year Report Highlights 100% Successful Appraisal and Development Drilling in Four Oil Fields in ex PEL 91, Bauer-39 Production, Several New Well Locations Identified, Two Successful Gas Wells, Infrastructure Upgrades\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 11, 2020\n\n\n\nTrading Symbol: NWX (TSX-V)\n VANCOUVER, Feb. 11, 2020 /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to report on highlights of Beach Energy Ltd.'s (\"Beach\") Report for the Half Year ended 31st December, 2019, as reported in a news release by Beach on 11th February, 2020.  The highlights reported in this news release relate to production and drilling activities on licenses in the Cooper Basin, Australia over which the Company has a 2.5% Gross Overriding Royalty (\"GOR\").\n\n \n \n\n \nBeach Report - Highlights\nBeach drilled 20 oil development wells on ex PEL 91, with a 100% success rate.\nAll wells were successfully cased and suspended as future producers. 12 horizontal oil development wells were drilled across the Bauer, Kalladeina, Chiton and Congony fields in ex PEL 91. All four fields are being appraised. Bauer-39 initial production at greater than 2,000bpd. Several new well locations identified. Infrastructure approved to support increased production.Appraisal Drilling on ex PEL 91\nAt the Bauer field, appraisal drilling activity added new oil production wells.\nField extensions have been identified in both the northern and southern parts of the field.\nA phase 2 appraisal program is planned at Bauer to further resolve the structural extent of the field.\nBauer-39 was the longest horizontal well drilled in the field to date with a McKinlay section of 1517m in length with a 90% reservoir. Beach anticipate a 30 day Initial Production rate of greater than 2,000bopd on pump. \nBauer-39 indicated a lifted McKinlay structure in the south-east of the field.\nBeach have dedicated an exploration rig to further appraise the Kalladeina/Congony fields.\nUpdated Reserves are to be reported at the end of B...