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Wizard Lake Rex Oil Discovery

Source: www.gulfoilandgas.com 1/21/2019, Location: Not categorized

Whitebark Energy (WBE) stands to increase its oil production by more than 200%, after flow testing of the Wizard Lake Rex horizontal oil well recorded production rates of 305 barrels of oil per day prior to the completion of testing, establishing the production capability of the reservoir. Oil cuts were trending upward through the stabilized flow period and indicate potential for further increases with full time production.

While rates were continually increasing when the flow test ended, the Point Loma Joint Venture (PLJV) determined the field was commercial and ongoing testing costs could be better directed to bringing the field into long term, lower cost production.

Whitebark Energy Managing Director, David Messina said: “The oil discovery by the Wizard well is an excellent result and Whitebark is very pleased with the oil flow rates from the first well. This is just the sort of success WBE has been targeting and we look forward to pushing ahead with further appraisal work and production operations during the first half of 2019.”

“The flow test results are very similar to those seen by other operators in the same reservoir during clean up flows of oil bearing reservoirs, which provides confidence about future wells in the pool.”

“The PLJV will now bring the well onto production and determine the best approach to develop this new discovery.”

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