Oil & Gas News
Nighthawk Energy (LON:HAWK, 30p, ? (1.64%)) announced an update in respect of the Jolly Ranch project in which it holds a 50% working interest with Running Foxes Petroleum Inc., the operator, holding the remaining 50% interest. Jolly Ranch comprises both conventional and non-conventional oil producing horizons targeting primarily Pennsylvanian age formations, namely the Marmaton (conventional) and Cherokee and Atoka (non-conventional) shales. The project covers approximately 370,000 gross acres located in Lincoln, Elbert and Washington Counties, Colorado and geologically located in the southern part of the Denver Basin. In July 2009 Schlumberger Data & Consulting Services reported that the P50, or most likely, oil in place in the three primary formations across approximately two-thirds of the acreage is 1.462 billion barrels gross.
In addition, the assessment stated that there is reasonable certainty of reservoir and source rock continuity over the project area and surrounding acreage. 13 vertical development wells targeting the Cherokee and Atoka shales (including one well which was sidetracked horizontally), three shallower wells and two salt water disposal wells have been drilled on the project.
In addition, an existing production well completed in an Atoka sandstone reservoir has been acquired from the State of Colorado. The project is producing oil from the Atoka and Cherokee shales at depths of 6,500 to 7,500 feet and the operator anticipates an upward trend in production from current average test production levels of approximately 150 b/d to an initial target of 1,000 b/d gross during 2010. The operator has completed three new 3-D seismic surveys that are presently being interpreted, while a re-evaluation of the previous 3-D seismic surveys has indicated a number of conventional targets, basement faulting and areas of potential sweet spots. Schlumberger has been engaged to complete an extended modelling and reservoir simulation to allow development of production and recovery profiles, with the results to be used as the basis of an independent reserves assessment.
Leed Petroleum (LON:LDP, 5.3p, ? (6.19%)) announced that the Ship Shoal 201 A-6 well has reached its total depth. The Company's interpretation of well logs confirms the presence of hydrocarbon pay in line with pre-drill expectations.
The Ship Shoal A-6 well was spudded on 1 February 2010 and reached a total measured depth of 13,341 feet on 17 February 2010. Electric line logs have confirmed that the…
