Echidna well flow is encouraging, Karoon says

Karoon Gas Australia Ltd has announced the production test results from the company’s most recent discovery, the Echidna-1 exploration well in the Santos Basin, Brazil.

Karoon spudded the Echidna-1 exploration well on March 31, 2015 and confirmed a 213 metre gross oil column on April 20, 2015.

According to the company, the test produced a facility constrained stabilised flow rate of 4,650 bopd (over 2 hours) from the Paleocene reservoirs with a flowing well head pressure of 504 psig on a 1” choke.

Oil samples recovered during the test measured 38.6 degree API oil gravity with a gas-oil-ratio of 701 scf/stb, with no measurable CO2 and H2S present, and no sand production.

Echidna-1 was drilled in Block S-M-1102 intersecting a 213 metre gross (104 metres net) oil column in Paleocene and Maastrichtian aged reservoirs. Karoon is the operator and has a 65% interest in the jointly held Block with partner Pacific Rubiales Energy Corp holding the remaining 35% interest.

Karoon’s Managing Director, Robert Hosking, said, “The Echidna discovery and production test represent a significant milestone, moving Karoon a step closer to realising the Company’s ambitions of developing an integrated production hub in the Santos Basin. The positive production test results confirm good quality Paleocene reservoir. Ultimately, well productivity is a key driver of commerciality for any oil project, particularly in the current oil price environment. In this context the result from the Echidna flow test is very encouraging.”

As at 0800 hrs AEST on May 7, 2015, the Echidna -1 exploration well had completed the production testing program within the Paleocene reservoir section.

Karoon says that the Maastrichtian oil bearing reservoir section will be evaluated with coring and production testing in more optimally located appraisal wells on the Echidna field.

Test results

DST-1 was conducted in the Paleocene sandstone reservoirs over the intervals 1,767 to 1,806 mRT and 1,813 to 1,843 mRT with an initial 24 hour main flow period. An average stabilized oil flow rate of 3,200 stb/d was achieved through a 44/64” choke with a flowing well head pressure of 733 psig and a gas-oil-ratio of 701 scf/stb.

After a 72 hour shut-in period the Echidna 1 well was flowed for 7.5 hours on increasing choke sizes with a final 2 hour, average stabilised flow rate of 4,650 bopd through a 1” choke with an average flowing well head pressure of 504 psig. Adjustments in testing facilities and procedures allowed a higher constrained flow rate to be achieved.

Physical oil samples recovered measured a 38.6 degree API oil gravity with a gas-oil-ratio of 701 scf/stb, with no measurable CO2 and H2S present, and no sand production.

Test results confirm that the quality of the Paleocene reservoir, previously interpreted from mud log and petrophysical data, is better than that observed anywhere else in Karoon’s Brazilian exploration acreage.

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