Frontera Resources Corporation announced an update of its operations at the Taribani Field Unit within Block 12, Georgia.
On May 21, fracing operations at the Taribani T-#45 well were successfully completed. This operation is a part of a larger field-wide effort to enhance production by applying artificially induced fractures to objective Zone 9 reservoirs at a depth of approximately 2,300 meters. Frac completions are designed to enhance well flow-rates and ensure sustainability of production. Production tubing is currently being installed in the well after which it will be placed into controlled production testing over the next thirty to sixty days in order to determine optimal sustainable flow rates.
"With the successful application of our second frac completion at the Taribani Field, we continue our steady progress in the development of Zone 9 amidst a strong commodity price environment," said Steve C. Nicandros, Chairman and Chief Executive Officer. "The evolving production operation from Zone 9 will now continue with the objective of increasing production and reserve additions through the continuation of development drilling."
The Taribani Field is a large, undeveloped oil field covering an area of approximately 80 square kilometers with productive horizons situated in Miocene and Pliocene age reservoirs. These reservoirs are located at depths between 2,200 meters and 3,500 meters. The independent consulting firm of Netherland, Sewell & Associates has assigned 118 million barrels of P3 reserves from Zones 9, 14, 15 and 19 within the field. Additionally, Netherland, Sewell & Associates has assigned as much as 36 million barrels of unrisked resource potential associated with five deeper horizons in the field.
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