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TAG Oil Provides BED 1-7 Well Production Update
TAG Oil Provides BED 1-7 Well Production Update Canada NewsWire Securing Dril...
About this update from Tag Oil Ltd
[{"type":"text","content":"\n \n \n \n TAG Oil Provides BED 1-7 Well Production Update\n \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 Canada NewsWire\n \n \n \n \n \n Securing Drilling Rig for BED-1 Field\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 19, 2023\n \n \n /CNW/ -\n \n TAG Oil Ltd.\n \n (TSXV: TAO) (OTCQX: TAOIF) (\"\n \n TAG Oil\n \n \" or the \"\n \n Company\n \n \") is pleased to provide the following operations update at the BED-1 Field in the Western Desert,\n \n Egypt\n \n :\n \n \n \n BED 1-7 Well Production\n \n \n \n Since initial flowback of the BED 1-7 well on\n \n April 23, 2023\n \n , the well started by unloading to surface completion fluid from the fracture stimulation and formation oil under natural flow; the Company temporarily shut-in the well to install production tubing and down-hole Electric Submersible Pump (\"ESP\"). The BED 1-7 well started production on\n \n May 19, 2023\n \n , from the Abu-Roash \"F\" (\"ARF\") reservoir with the ESP pump at rates of 150 to 200 barrels of fluid per day and continued to unload remaining fracture fluid with gradual increase of formation oil over the first week. Pump speeds and surface choke adjustments were made to achieve a stabilized rate of production. Over the past two weeks, down-hole pump intake pressure and production stabilized at an average rate of 140 barrels of oil per day with about five (5) percent water content at a constant ESP pump speed and wellhead choke of 10/64\". The Company intends to maintain the same pump speed and choke size to monitor the well's performance for the next 30 to 60 days. Cumulative oil production from the well to date is over 4,000 barrels of 23-degree API Oil.\n \n \n The performance of the BED 1-7 vertical well test has achieved the Company's objectives for the well, including the Diagnostic Fracture Injection Test (DFIT) pressure leak-off for indications of reservoir parameters, fluid samples from the ARF, successful completion of a large single-stage fracture treatment on the ARF, and inflow performance testing of the stimulated...