Business
Testing and Production Update
Testing and Production Update.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6587M Pantheon Resources PLC 22 January 2016 \n\n \n \n\n\n\n\nPress release\n\n\n22 January 2016\n\n\n\n\n \nPantheon Resources plc\n \n Testing and production update\n \nPantheon Resources plc (\"the Company\"), the AIM-quoted oil and gas exploration and production company with a 50% working interest in several projects in Tyler and Polk Counties, East Texas, announces the following operational update:\n \nUpdate on testing operations at VOS#1 well, Tyler County, onshore East Texas\n \nThe JV has completed the pressure build up test on VOS#1. This has provided valuable diagnostic information on what the JV perceives is a blockage in the well. This has taken time, but gathering the data is an iterative process and careful analysis and preparation is necessary to minimise risk in deep, high pressure wells which have encountered such a large section of net pay. \n \nBlockages have occurred in a number of wells in the nearby Double A Wells field and these were successfully remediated. The JV has been able to access relevant data from these wells and analysis has already been undertaken. \n \nIn addition to the pressure build up test, the JV has decided to perform a second flow test at a wider range of choke sizes and tubing pressures, as well as an inexpensive diagnostic spinner survey, which, combined with the data from the Double A Wells field, should help decide the optimal course of action.\n \nA spinner survey tool will be dropped to the bottom of the wellbore and slowly pulled up through the perforated interval. This will allow the JV to identify the perforation points at which production fluids are entering the well and assess more accurately where any potential blockages might be occurring. The JV is currently investigating the availability of the relevant equipment and the spinner survey will be conducted as soon as this is procured and available. \n \nA further announcement will be made when operations are complete.\n \n \nUpdate on operations at VOBM#1 well, Polk County, onshore East Texas\n \nAs a final step in bringing the VOBM#1 well online, the JV is negotiating with nearby natural gas processing plants for the supply and processing of natural gas. Once these have been agreed, the JV will begin prepar...