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Valeura Energy Inc Announces Results of the fourth test at the Inanli-1
Valeura Announces Test Results at the Fourth Zone in the Inanli-1 Well CALGARY, CANADA /...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc Announces Results of the fourth test at the Inanli-1Valeura Announces Test Results at the Fourth Zone in the Inanli-1 WellCALGARY, CANADA / ACCESSWIRE / October 21, 2019 / Valeura Energy Inc. (TSX:VLE)(LSE:VLU) (\"Valeura\" or the \"Company\"), the upstream natural gas producer focused on appraising and developing an unconventional gas accumulation play in the Thrace Basin of Turkey in partnership with Equinor, is pleased to provide results of the fourth test at the Inanli-1 well, and a summary of well results. Subsequent to the completion of this test at Inanli-1, Valeura and its partners now plan to move testing to the Devepinar-1 well where operations are expected to commence within the week.Fourth Zone Test ResultsThe fourth test targeted an interval between 3681 metres and 3723 metres in the Kesan Formation, which was stimulated by placing approximately 100 tonnes of proppant into the reservoir. The net porous sand (above 3% porosity) within this gross section is interpreted to be 37.6 metres and the average porosity was 6.8%. Utilising artificial lift to assist in cleaning up the well, the interval was flowed for 10 days. Average net gas rate over the flowing period was 306 Mcf/d (thousand cubic feet per day), and the rate for the final 24 hours of flow was 171 Mcf/d. The gas from this zone was produced alongside condensate, with a condensate-gas ratio (CGR) of 23 bbls/MMcf (barrels per million cubic feet) over the total flowing period, but this was increasing over the course of the test and during the final 24 hours the rate was 97 bbls/MMcf. Water recovery was 98 bbls/d (barrels per day) over the final 24 hours of flow and was declining. The flow results of the fourth test were similar to the results of the third test between 3855 and 3925 metres.Inanli-1 SummaryEach of the four zones tested in Inanli-1 successfully demonstrated stable gas production and the Company has seen evidence of both fracture and matrix contributions to the gas flow. While only limited zones throughout the long column were stimulated and tested, the program has met its objective to calibrate the productivity of individual reservoir intervals to the petrophysical interpretations based on drilling data, wireline logs and core. A significant amount of gas, water and condensate samples were captured during the testing and further a...