Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Petroceltic Confirms New Kurd Drill as it Awaits Further Shakrok Testing

change text size

Oil and gas junior Petroceltic International confirmed Thursday that drilling on its Shireen-1 well on the Dinarta license, Iraqi Kurdistan, is scheduled to begin within three-to-four weeks.

The well, which will target oil in both the Jurassic and Triassic layers, is expected to take around 150 days to reach its planned total depth. Gross prospective oil resources at the target have been estimated at some 706 million barrels.

The well comes under the operatorship of Hess, which holds a 64 percent stake. Petroceltic and the Kurdistan Regional Government hold 16 percent and 20 percent respectively.

In an operational update Thursday, Petroceltic said drill stem tests on Kurdistan's Shakrok-1 well, which was drilled in March, have been completed in the fractured carbonates of the Butmah formation. Both of these tests flowed formation water to the surface with no hydrocarbons. The plan now is to proceed with the testing program and run two further DSTs in the overlying Adaiyah and Mus intervals, with testing operations set to continue until late May.

Petroceltic Chief Executive Brian O'Cathain commented in a company statement:

"We have reached the half-way point of our Jurassic formation testing program in Shakrok-1. The well-test results to date indicate that the Butmah formation is water-bearing and contains only residual, non-movable, hydrocarbons. The remaining two tests will target potential oil zones which have been identified by wireline logging within a gross 300 meter stratigraphic column beneath the Alan Anhydrite formation, which acts as an effective seal for oil columns in offsetting discoveries. We await with interest the outcome of these next two tests."

Elsewhere, Petroceltic began drilling an exploration well on the South Dikirnis prospect in Egypt on May 2. The well is targeting a potential oil and gas-bearing prospect within the West Dikirnis license (in which Petroceltic holds a 100-percent stake). The South Dikirnis prospect has a gross mean un-risked prospective resource of 7.6 million barrels of oil equivalent. The well is scheduled to reach its total depth in early June.

In Romania, the Muridava-1 exploration well was started on the Muridava license (where Petroceltic is the operator with a 40-percent stake) on April 11. The well –which is targeting resources of 185 billion cubic feet of gas – is expected to take two months to complete.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell Agrees Sale of Norwegian Downstr... (Dec 18)
 -  Independent Gets Cronx Extension (Dec 18)
 -  Det norske Appoints New Head of Projec... (Dec 18)
 -  Rose is Granted Utah Drilling Permit (Dec 18)
 -  Solo Oil Purchase of Tanzanian License... (Dec 17)
Most Popular Articles
From the Career Center
Jobs that may interest you
Directional Driller
Expertise: Directional Driller
Location: Houston, TX
 
Rig Manager
Expertise: Rig Manager
Location: International
 
Rig Safety Coordinator/Manager
Expertise: Rig Manager, Safety Engineering
Location: International
 
search for more jobs