Nostra Terra Posts Bale Creek Production Results
by Nostra Terra O&G Co. plc
|Thursday, November 01, 2012
Nostra Terra announced that the second well at the Bale Creek Prospect has demonstrated positive prolonged testing results and is now producing oil and generating revenue.
Production testing on the second (vertical) well has been underway for 790 cumulative hours over recent weeks. After correcting for the initial "flush production", the well has produced at an average of 2.5 barrels of oil per hour. To date, 1,930 of those barrels have already been sold to purchasers.
Given the positive production results on the second well, it has been decided to discontinue work on the first well where pressure was low, and to focus resources on future wells.
Nostra Terra has a 30 percent working interest in the Bale Creek prospect which is operated by Pathfinder Development Capital, LLC.
"We are encouraged by the results from second well and pleased to add the production to our growing portfolio," Chief Executive Officer of Nostra Terra Matt Lofgran stated.
"Prolonged production-testing is considered to be a much better indicator of production capability than the more subjective swab-testing. We have been executing various well treatments; each of which was then followed by production testing to evaluate the results. The treatments have resulted in better well response and we have additional treatments to apply and evaluate for further improvements," Chief Operating Officer of Nostra Terra Alden McCall said.
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