The second interval tested in the well is the Devonian Pashinsky Horizon, which will be placed on long-term test production. Following perforation with tubing conveyed guns there was a strong oil flow to the surface. Over the past week, the well has been flowed at various choke settings to meet the Russian standards for well testing. On a 10 mm choke (4/10 of an inch), the well flowed at a rate of 907 BOPD with a flowing wellhead pressure of 200 psi. The oil recovered was 31 degrees API gravity with no formation water. An early production system for this well is presently being fabricated.
A second well in the eastern part of the structure commenced drilling last week and is presently preparing to core Permian objectives proven in other parts of the structure. This well is in an area of the field which was drilled in the 1950's and 1960's with good indications of oil on logs, but which was never tested. The well will be drilled to the deeper Devonian objectives after which a completion and testing plan will be made based on log and sample data.
Valkyries President and CEO Keith Hill stated "We are extremely pleased with the results of the new well. With successful confirmation of one of the main reservoir targets, we plan to aggressively pursue development of this field and hope to reclassify a large portion of the existing probable reserves to proven reserves by year end."
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