Bering Exploration Concludes Initial Production Test at North Edna Prospect
by Bering Exploration
|Tuesday, February 19, 2013
Bering Exploration, Inc. announced Wednesday that it has completed the initial production test conducted at the conclusion of the re-completion performed on one of its wells on its North Edna prospect. The initial test report showed that the well flowed at 400 million cubic feet per day on a #6 choke at a 2914 pressure rate with a recovery rate of 4.33 barrels per day of condensate and no water from a virgin zone in this formation. This 348 acre prospect is located in Jefferson Parish, Louisiana and has potential gross reserves of the equivalent of 1 million barrels which, based upon current prices, equates to a gross value of more than $95 million dollars.
"We are very pleased to get a positive test result," stated Steven Plumb, VP of Finance of Bering. "We are now taking bids to complete the well and establish a gas pipeline tie-in."
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