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Valeura Announces Commencement of Drilling at The Devepinar-1 Appraisal Well and Inanli-1 Completion Programme
Valeura Announces Commencement of Drilling at The Devepinar-1 Appraisal Well and Inanli-1 ...
About this update from Valeura Energy Inc.
[{"type":"text","content":"\n\n\n\nValeura Announces Commencement of Drilling at The Devepinar-1 Appraisal Well and Inanli-1 Completion Programme\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\nCALGARY, Feb. 20, 2019\n\n\n\nCALGARY, Feb. 20, 2019 /CNW/ - Valeura Energy Inc. (TSX:VLE) (\"Valeura\" or the \"Company\"), the upstream natural gas producer focused on appraising and developing an unconventional gas accumulation in the Thrace Basin of Turkey, is pleased to announce the commencement of drilling operations at the Devepinar-1 appraisal well and an update on the completion programme for the Inanli-1 well.\n\n \n \n\n \nDevepinar-1 drillingValeura spudded the Devepinar-1 appraisal well on February 19, 2019, approximately 20 km to the west of the Inanli-1 appraisal well. The location was selected by Valeura and its partners Equinor Turkey B.V. (\"Equinor\"), and Pinnacle Turkey International (\"Pinnacle\") as a substantial step-out, intended to test the lateral extent of the Basin Centered Gas Accumulation (\"BCGA\") play to the western side of the basin.  In continuing with its strategy to fully appraise its Thrace BCGA, the drilling programme includes an extensive data-gathering plan.  Given the success of Inanli-1 in demonstrating the presence of overpressured gas down to approximately 4,900 metres, Devepinar-1 is currently planned to focus on the most promising intervals, which are shallower.  The well is planned to be drilled to 4,300 metres, and will take approximately 80 days, but the design will allow for the well to be deepened further if required.  \nThe drilling, evaluation and casing of the well is expected to have a gross cost of approximately C$25 million. Valeura is operator with a working interest of 31.5% in the deep rights of the West Thrace exploration license, with Equinor holding 50% and Pinnacle the remaining 18.5%.  \nInanli-1 completion programmeMulti-stage reservoir stimulation and flow testing operations on Inanli-1 will target at least four intervals of interest identified in the well's 1,615 metre gross objective section.&#...