Business
Newport Reports that Production Growth Continues with 16% Increase in Quarterly Oil Production from ex PEL 91
Newport Reports that Production Growth Continues with 16% Increase in Quarterly Oil Produc...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n\n\n\nNewport Reports that Production Growth Continues with 16% Increase in Quarterly Oil Production from ex PEL 91\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 29, 2020\n\n\n\nTWO LOWRY WELLS CONNECTED. 100% SUCCESS RATE FROM DRILLING IN EX PEL 91. ARNO-3 WELL SUCCESSFUL.\nTrading Symbol: NWX (TSX-V)\n VANCOUVER, Jan. 29, 2020 /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to provide an update on production and drilling activities on licenses in the Cooper Basin, Australia over which the Company has a 2.5% gross overriding royalty (\"GOR\"). This information was reported by Beach Energy Ltd (\"Beach\") (ASX: BPT) in its FY2020 Second Quarter Activities Report dated 29th January, 2020. \n\n \n \n\n \nProduction\nBeach report that their quarterly oil production from ex PEL 91 increased 16%, with ex PEL 91 reporting production of 1,556kboe, up from 1,337kboe in Q1.\nBeach's Western Flank gas liquids production from ex PEL's 91/106 was 545kboe, 6% higher than the prior quarter as two high-liquids content Lowry wells were connected and facility reliability was maintained at greater than 99%.\nField work continues to support higher liquids production rates.\nDrilling\nHighlights of Beach's drilling program include a 100% success rate from nine oil development wells across the Bauer, Kalladeina and Chiton fields in ex PEL 91. The wells comprised three vertical and six horizontal wells, including a horizontal well with the longest lateral length drilled by Beach in the Western Flank to date at 1,629 metres. At quarter-end, one horizontal well was drilling ahead.\nAt the Bauer Field in ex PEL 91, the Bauer Northwest-2 and -3 appraisal wells were cased and suspended as future producers. The results from these wells indicate a northerly extension of the Bauer Field. Utilizing production data from the wells, the potential for future appraisal and development drilling will be evaluated.\nAt the Arno Field in ex PEL 91, the Arno appraisal drilling campaign was completed with the Arno...