Serinus Completes Production Testing in M-17

Source: www.gulfoilandgas.com 6/11/2014, Location: Asia

Serinus Energy Inc is pleased to announce that production testing has been completed on the S6 sandstone in the Makeevskoye?17 (“M-17”) well, and the maximum flow rate achieved was 6.6 MMcf/d through an 8 mm choke at a flowing wellhead pressure of 2,970 psi. The well has been shut in for a pressure build up, after which the recorders will be retrieved and the well will be tied in for production.

The M-17 well is operated by KUB-Gas LLC, a partially-owned subsidiary in which SEN has a 70% effective indirect ownership interest through its 70% shareholding of KUBGas Holdings Limited.

As previously disclosed (press release of March 19, 2014), logs indicated 9 metres of net pay in the S6 sandstone. The S6 was flowed at five different choke sizes and rates for periods of between 2 and 3 hours each.

M-17 represents a significant step out and possible reserve addition for the S6 interval. The well results suggest an expansion of the pool area to the north that will need verification with additional drilling.

Tim Elliott, the Chief Executive Office of Serinus said “While this is a great test result, with potentially significant implications going forward, more importantly the success is a tribute to our team at Kub-Gas LLC, who continue to work in a very difficult environment. I take this opportunity to thank everyone at Kub-Gas for their courage and dedication.”

The pressure recorders will be retrieved via wireline within the next day or two, and M-17 is expected to be tied into the new Makeevskoye gas facility initially as an S6 producer by mid - July. Once the security situation in Ukraine stabilizes, the deeper S7 will be frac’ed, and the well dually completed as an S6/S7 producer. The workover rig is now in the process of moving to the Olgovskoye–11 (“O?11”) to begin completion and testing operations there. O-11 was cased as a potential producer in early June with logs indicating potential gas pay in four zones.

Makeevskoye Field
The Makeevskoye Field comprises approximately 57% of total Ukrainian production and is the most productive licence in Serinus’ portfolio in Ukraine. Currently gross production is 17.4 MMcf/d (12.2 MMcf/d net to SEN WI) from 6 producing wells. In April 2013, the Company announced a new pool gas discovery on the Makeevskoye Licence in Ukraine when the M-16 well tested gas from the S6 zone, opening up the Serpukhovian formation as a potential target throughout the Makeevskoye and Olgovskoye licences. M-16 currently produces approximately 4 MMcf/d (2.8 MMcf/d net to SEN). That success was followed up by S6 and S7 discoveries in both M-17 and O-11, and the Serpukhovian is now a primary target in the balance of the 2014 drilling program and beyond.


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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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