Falcon Updates on Foldeak-1 Operations in Hungary
Falcon Oil & Gas reported that the third fracture of the Foldeak-1 well has been completed at a depth of approximately 3,850 meters within the Szolnok Formation of the Hungarian Mako Trough, and that the well has been temporarily plugged and abandoned to allow future access as required.
The well was flowed for a 130 hour period. Initial gas flow rates of 20,000 standard cubic feet (560 cubic meters) per day depleted to 7,000 standard cubic feet (200 cubic meters) per day at the end of the flow period. Initial water flow rates averaged over 3,400 barrels (540 cubic meters) per day going to approximately 300 barrels (50 cubic meters) per day at the end of the flow period. H2S rates averaged 50ppm and CO2 averaged 10%.
This third fracture test completes Production Ventures East Hungary Kft (ExxonMobil), and Hungarian oil and gas firm, MOL's, US $50 million financial obligation under the Initial Work Program, and completes the Initial Work Program itself, under the Production and Development Agreement among Falcon, ExxonMobil, and MOL.
- Offshore Australia Project Marks Step-Change (Jan 16)
- Venezuela Will Remap its Caribbean Oil, Gas Prospects (Jan 09)
- Offshore Guyana Wildcat Spuds (Jan 07)
Company: MOL Hungarian Oil & Gas more info
- European Refiner Looks 'Beyond the Fuel Age' (Mar 12)
- MOL Group Acquires New Licenses in Hungary (Feb 07)
- MOL Makes Oil, Gas Discoveries in Pakistan (Jul 13)
Company: Falcon Oil & Gas more info
- Falcon Updates on Drilling Ops at Amungee NW-1H Well in Beetaloo Basin (Sep 30)
- Falcon O&G Provides Update on Drilling Ops in Beetaloo Basin in Australia (Jul 26)
- Falcon Outlines Drilling Plans for its Australia's Beetaloo Basin Assets (Apr 29)