Rockhopper Completed Guendalina Sidetrack Well

Source: www.gulfoilandgas.com 11/10/2015, Location: Europe

Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce the successful completion of the side track well GU2-Dir A (the "Well") at the Guendalina gas field (Eni 80% Operator, Rockhopper 20%) in the Northern Adriatic, offshore Italy.

The Well, which was drilled on time and on budget, reached a planned total depth of 3,276m. All target horizons within the Pliocene were gas-bearing and penetrated in an up-dip position with anticipated reservoir characteristics. Additionally, two deeper gas levels were encountered that have been perforated as part of the dual string completion.

The rig moved off location on 4 November and production has now resumed. Total production from the field is stabilised at approximately 440,000 standard cubic metres (scm) per day gross, 88,000 scm per day net to Rockhopper (580 barrels of oil equivalent (boe) per day), representing an increase of 190% from the last reported rates of approximately 200 boe per day net.

At current gas prices and exchange rates, Rockhopper anticipates revenue from Guendalina, net to the Company, of approximately US$ 7 million in 2016.

Sam Moody, Chief Executive Officer, commented: "We are delighted with the results of the sidetrack operation, which has delivered the Company a material increase in our daily production, added to which we anticipate that we should be commencing production on our 100% operated onshore gas development Civita by the end of this year. This boost to revenue and cash flow also reinforces our strong financial position and demonstrates real progress in the building of our Greater Mediterranean portfolio post the acquisition of Mediterranean Oil & Gas plc."


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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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