Bengal Energy Announces Cuisinier Oil Field Water Injection Program Commencement

Source: 11/30/2021, Location: Not categorized

Bengal Energy Ltd. is pleased to announce the Cuisinier Oil Field Water Injection Pilot Program commenced sustained water injection on November 12, 2021.

The previously producing Cuisinier 24 ("C24") well was converted to a water injector with produced water from Cuisinier 7 pipelined to the C24 location and injected into the reservoir.

Currently, the water injection rate is 377 barrels of water per day, with 4,000 barrels of water injected cumulatively so far, with the C24 well head pressure being 1022 psi. The forward plan is to continue to increase injection rate up to a well head pressure of 1,350 psi.

"We are very pleased to see that the long-awaited water injection pilot has been implemented at Cuisinier," said Chayan Chakrabarty, Bengal's President and CEO. "We believe the Murta formation at Cuisinier is an ideal waterflood candidate, given the high-quality reservoir characteristics, low crude oil viscosity and the low GOR in the reservoir. We expect to see a quick response in the offsetting producers, increasing oil recovery of those affected producers through this additional reservoir drive."

In addition, the Barta Joint Venture at Cuisinier will expect to see considerable cost savings in water handling and disposal fees of approximately $700,000 per annum (gross) and higher injection rates are expected to free up additional volume in the Cuisinier to Cook pipeline to accommodate increased oil production.

With continued success of the program, the water injection program can be expanded fieldwide with the majority of the required plant and equipment costs having already been incurred.

The Cuisinier field has produced approximately 4% of the 95 million barrels of light crude oil (29 million barrels net Bengal's 30.357% working interest in the Cuisinier field) of 2P Oil Initially In Place1 per the Company's most recent third-party reserves evaluation effective March 31, 2021. The Company expects an expanded fieldwide pressure maintenance program to help arrest natural pool production decline while increasing overall oil recovery factor.

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