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Valeura Announces Comingled Production Test Results at Devepinar-1

Source: www.gulfoilandgas.com 12/13/2019, Location: Europe

Valeura Energy Inc., the upstream natural gas producer focused on appraising and developing an unconventional gas accumulation play in the Thrace Basin of Turkey, reports natural gas production test results for the Devepinar-1 well.

Comingled test
Following short-term tests on each of the three intervals stimulated in the well, as announced on November 29, 2019, the Company drilled out the plugs isolating each interval, installed 2 7/8” production tubing, and conducted a comingled production test across a 125 metre gross section from 4,640 metres to 4,765 metres lasting approximately 11 days. The comingled test yielded gas flow rates similar to the results measured from the single intervals previously tested. This may indicate that each of the three stimulations contacted a common fracture network with further modelling work underway to fully interpret these test results. The average flow rate over the 11 day comingled test period was 908 mcf/d and the gas flow for the final 24 hours of testing was 462 mcf/d. In total, the well produced for approximately 20 days at an average rate of 1,106 mcf/d (including the initial individual stimulations). No condensate was measured during the testing.

Sean Guest, President and CEO commented:
“We are pleased with initial rates from each of the three stimulated intervals, and with the substantial data set we acquired through the comingled production flow test. The results from Devepinar are on trend with our predictions derived from the other tests conducted in the basin with regard to product characteristics – at this depth we see dry gas, with no condensate. While every test to date has resulted in gas flowing to surface, we continue to see the best flow rates at the deepest intervals in the play. Further modelling work is needed to interpret the implications of the comingled test results, which will lead to establishing the next steps for our continuing appraisal of the deep gas play.”

Forward plan
The Company has shut in the well and is now performing a pressure build-up survey. Completion equipment is being de-mobilised while Valeura collaborates with its partners to define the next steps for the play. Future work may include further long-term testing of the stimulated zone, additional tests shallower in the wellbore, and additional geotechnical study work, prior to defining additional drilling plans for the play.

Valeura intends to communicate its forward work programme for both ongoing appraisal of its deep gas play and its producing shallow gas business in Q1 2020.

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