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Valeura Provides an Operations Update, Basin Centered Gas Accumulation Appraisal Program Begins
Valeura Provides an Operations Update, Basin Centered Gas Accumulation Appraisal Program B...
About this update from Valeura Energy Inc.
[{"type":"text","content":"\n\n\n\nValeura Provides an Operations Update, Basin Centered Gas Accumulation Appraisal Program Begins\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, June 28, 2018\n\n\n\nCALGARY, June 28, 2018 /CNW/ - Valeura Energy Inc. (TSX:VLE) (\"Valeura\" or the \"Company\") is pleased to provide an operations update concerning its Basin Centered Gas Accumulation (\"BCGA\") appraisal program, in the Thrace basin of Turkey.  \n\n\n \n \n\n \n\"Major contracts and regulatory approvals are in place and well operations are about to begin,\" commented Sean Guest, President and CEO, \"We have developed a definitive program to appraise the BCGA and the team is excited to return to active operations.\" \n\nYamalik-1 The Company's plan for the Yamalik-1 well remains intact.  Equipment, including a snubbing rig and a production test unit, will start arriving on location in the first week of July 2018, with well operations expected to begin the week thereafter. The objective is to drill out the existing plugs in the well to allow for a comingled test from all eight frac'ed intervals. Valeura is then planning to immediately tie-in the well to the Company-owned production facilities via a new pipeline which is nearing completion. Tie-in will allow for gas sales and long-term testing.  \n\nAppraisal Drilling Valeura has obtained all land permitting and regulatory approvals to begin operations on Inanli-1, the first BCGA appraisal well. Construction of the well location is expected to commence in July 2018, followed by mobilization of the drilling rig to the site in August 2018 and spud of the well in September 2018.\n\nThe Inanli-1 location is approximately 6 km to the north-east of Yamalik-1 and is designed to be drilled to a depth of 5,000 m. This is approximately 800 m deeper than Yamalik-1 which stopped drilling while still within an overpressured gas column. Given the deeper total depth, Valeura expects the well will extend the proven gas column, which would then increase gas volumes in the DeGolyer and MacNaughton external resource report releas...