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WesternZagros tests Iraq well at rates of up to almost 10,000 barrels per day
June 7 2011
Calgary-based WesternZagros Resources (CVE:WZR) on Tuesday announced that it has completed initial testing of the oil discovery made in the Jeribe formation of its Sarqala-1 well, in Iraq.
The company tested the well at rates up to 9,444 barrels per day of 40 degrees API oil.
No water was produced during testing and no stimulation to the well was applied, the oil and gas explorer said.
"With this confirmation of a large oil discovery, our immediate efforts will be directed toward sourcing surface facilities to start producing oil during an extended testing program,” said CEO Simon Hatfield.
"We will do this in order to fully evaluate the long term potential of this well and to generate revenue for the company and for Kurdistan as early as the end of the year," he added.
The stellar near-10,000-barrels-per-day rate was reached after flowing and stabilizing the well at progressively bigger choke sizes, until reaching the limits of the surface equipment. A 52/64 inch choke, with a wellhead pressure of 2,475 per square inch was used.
Iraq has about 115 billion barrels of proven oil reserves, and 220 billion barrels of proven and probable reserves, according to the company.
WesternZagros acquires, explores, and develops properties to produce crude oil and natural gas in Iraq. The company holds a production sharing contract with the Kurdistan Regional Government through its subsidiaries.
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June 7 2011
Calgary-based WesternZagros Resources (CVE:WZR) on Tuesday announced that it has completed initial testing of the oil discovery made in the Jeribe formation of its Sarqala-1 well, in Iraq.
The company tested the well at rates up to 9,444 barrels per day of 40 degrees API oil.
No water was produced during testing and no stimulation to the well was applied, the oil and gas explorer said.
"With this confirmation of a large oil discovery, our immediate efforts will be directed toward sourcing surface facilities to start producing oil during an extended testing program,” said CEO Simon Hatfield.
"We will do this in order to fully evaluate the long term potential of this well and to generate revenue for the company and for Kurdistan as early as the end of the year," he added.
The stellar near-10,000-barrels-per-day rate was reached after flowing and stabilizing the well at progressively bigger choke sizes, until reaching the limits of the surface equipment. A 52/64 inch choke, with a wellhead pressure of 2,475 per square inch was used.
Iraq has about 115 billion barrels of proven oil reserves, and 220 billion barrels of proven and probable reserves, according to the company.
WesternZagros acquires, explores, and develops properties to produce crude oil and natural gas in Iraq. The company holds a production sharing contract with the Kurdistan Regional Government through its subsidiaries.
[You must be registered and logged in to see this link.]
