Oil & Gas Corporate News
Nautical Petroleum (LON:NPE) (NPE, 288p, ? 7.87%) announced that the Kraken 9/02b-5Z horizontal well, located in UKCS North Sea Block 9/2b, has been successfully completed and tested. The horizontal section of the well was drilled from 5,257 ft Measured Depth (MD) to a total depth of 7,260 ft MD, a horizontal displacement of 2,003 ft. Preliminary log evaluation indicates a calculated net oil pay of 1,598 ft, with average porosity of 38% and average oil saturation of 90%. The logs indicate a continuous reservoir interval with a maximum pay thickness along the horizontal section of 120 ft true vertical thickness. The well was put on production and cleaned-up at increasing flowrates for a total of 23 hours. A multi-rate test was then carried out including stable rates of 3,000 bbl/d for 12 hours and 4,100 bbl/d for 11.5 hours. The maximum stabilised rate achieved was 4,550 bbl/d. The oil gravity was 15 ºAPI. Downhole and surface oil samples were collected for analysis. On completion of operations, the well will be suspended for future use in the development of the Kraken field. Nautical has a 50% interest in Block 9/2b and is the operator. The other participants are First Oil and Gas Limited (30%) and Canamens Energy North Sea Limited (20%).
Rockhopper (LON:RKH) Exploration (BUY, £6.00) (RKH, 193p, ? 1.15%) announced that the 14/10-8 exploration well was spudded at on 25 September 2011. The Well is situated on Licence PL032, which is 100% owned and operated by Rockhopper, and is located approximately 4.1km to the south-south-east of the 14/10-2 discovery well, outside of the Sea Lion Discovery Area. This well is designed to investigate reservoir and hydrocarbon presence within the Sea Lion Main Complex in an area of relatively low amplitudes and is also an exploration well on both the Casper and Kermit oil prospects. Drilling operations are expected to take approximately 28 days and a further announcement will be made once drilling is completed.
3Legs Resources (LON:3LEG) (3LEG, 227p, ? 0.95%) announced an operational update on its activities in Europe. At Lebien LE-2H, the initial testing phase is now concluded. The well flowed with the aid of the nitrogen lift at a net natural gas rate of approximately 450-520 mscf/d up to 25 September, and is now in…
