Delta Oil and Gas announced that its third horizontal development well at Wordsworth, Saskatchewan (the 14-7-3W2 horizontal well) has been drilled and completed. The well was drilled to a horizontal depth of 6,332 feet. Analysis of drilling results indicated that this well should be capable of production rates similar to our other wells to the west. Surface pumping equipment has been installed and a flowline has been installed to deliver fluids to the facility located at 2A2-23-7-3W2.
The well was placed on a pump on September 25, 2009 and we achieved initial flow rates of approximately 150 barrels of oil per day with equal volumes of water. It has now stabilized at approximately 120 barrels of oil per day. We anticipate that this well will produce at its strongest levels in the first two years and expect to extract in excess of 60,000 barrels of oil in that time. Additionally, this well provided some important insight into the porous reservoir distribution in this area of the field and will help in determining the locations of future wells to maximize the recovery of hydrocarbons.
Delta owns a 5.0% working interest in this horizontal well and has fully paid CDN $67,253.50 as its proportionate share of the drilling and completion costs of this well. Operating costs on an ongoing basis have not yet been determined but have been budgeted for. This area is known for prolific oil reserves in numerous Mississippian Alida pools The Company is now in discussions with the operator with respect the drilling of additional wells in the vicinity.
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