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Valeura Updates Production Testing Progress (Test #3) at the Yamalik-1 Well
Valeura Updates Production Testing Progress (Test #3) at the Yamalik-1 Well Canada...
About this update from Valeura Energy Inc.
[{"type":"text","content":"\n\n\n\nValeura Updates Production Testing Progress (Test #3) at the Yamalik-1 Well\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\nCanada NewsWire\nCALGARY, Dec. 18, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nCALGARY, Dec. 18, 2017 /CNW/ - Valeura Energy Inc. (\"Valeura\" or the \"Corporation\") (TSX: VLE) is pleased to report that the third of four planned production tests in the Kesan formation at the Yamalik-1 exploration well in Turkey (\"Test #3\") has been completed with positive results. The results of the first production test (\"Test #1\") and the second production test (\"Test #2\") were announced on November 27, 2017 and December 11, 2017, respectively. \n\nTwo slick-water fracs were carried out in Test #3 to access approximately 26 metres of indicated net gas pay over a depth interval from 3,488 to 3,635 metres. The well was produced for a total of 37 hours. Over the final 24 hours of stable flow, the well was produced at an average restricted rate of approximately 0.9 million cubic feet per day (\"MMcf/d\") of natural gas. This rate compares to the final 24-hour rate of 0.8 MMcf/d in both Test #1 and Test #2.\n\nCondensate production in the range of 20 to 30 barrels per MMcf was observed in Test #3. The condensate measurement is subject to considerable uncertainty given the nature of the testing protocol and the short duration of the testing.  \n\n(See advisories below regarding initial production rate disclosure)\n\nThe Yamalik-1 testing program is continuing and it is expected that a bridge plug will be set above the Test #3 interval prior to executing a planned two-stage frac in the fourth test interval at a mid-point depth of approximately 3,400 metres.\n\nABOUT THE CORPORATION\n\nValeura Energy Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey.\n\nOIL AND GAS ADVISORIES \n\nThe short production test rates disclosed in this news release are pre...