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Sacgasco Commences Natural Gas Sales at Dempsey

Source: www.gulfoilandgas.com 7/18/2018, Location: North America

Sacgasco Limited is pleased to advise that the Dempsey 1-15 well is flowing natural gas to sales pipelines at a combined rate of 1,300 mcf per day. Dempsey 1-15 is producing gas from Ranch Capay Field Level Kione Sandstone and the combined older Zones 2, 3 and 4.

Gas from all four producing zones has been assessed to be of pipeline quality. Figure 1 shows the Dempsey 1-15 well location and associated metering facilities in the Rancho Capay Field Area The Dempsey well configuration will enable reservoir assessment as the basis for further development activities from the various production levels. This information will be integrated with geology and seismic data to evaluate more production options, including reservoir production enhancement through fracture stimulation, and alternative deviated well configurations.

As well as growing production and revenue streams from Dempsey, Sacgasco is advancing with the connection of a number of other idle wells. Production from other wells can add materially to Sacgasco’s growing production profile.

Sacgasco’s Managing Director Gary Jeffery commented: “We are very pleased to again be selling gas from the Dempsey well. Current gas prices in California are around US$3 per mcf. We have more than doubled gas sales in the Sacramento Basin with Dempsey on stream and more gas is being sourced.

The contribution of other wells we are working on connecting can add materially to this. The quality of the natural gas from all zones tested in Dempsey enhances marketing of the gas production.

“Concurrent to our production growth strategy, we are assessing ways to access the large gas reservoirs that exist below our Sacramento Basin production. Recent drilling tells us conclusively that we are sitting on huge gas potential in the Northern Sacramento Basin, and we have the added advantage of near term cash flow to support our activities. We look forward to updating shareholders on pending connections, work-overs, Alvares appraisal and other growth initiatives that are underway.”

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