Horizontal Drilling Commences at Lee County Well
Buccaneer provided an update for the Vick # A2 well located at the Lee County project, approximately 120 miles west of Houston.
The Nickolas # 1 rig has moved onto the Vick # A2 location. Drilling of a 1800' – 2000' horizontal has commenced, targeting some of the previously identified fracture zones that flowed in the vertical component of the well at 511 BOPD. This is anticipated to take 14 – 18 days to complete.
The vertical component of this well was drilled in May 2010 and successfully intersected fracture zones in the Lower Austin Chalk that contained oil. An open-hole production test over 24 hours was completed with the well producing 511 BOPD under natural pressure. Based on these flow rates a decision was made to complete the well as a vertical well. Subsequently pumping equipment was installed to assist in stabilising the production rate, however this was not achieved and production ranged between 3 – 140 BOPD.
Logging results generally indicated porosities of 6% in the Austin Chalk with some zones reading in the range of 8 - 12%, which is considered good.
The vertical well was drilled through the Eagle Ford Shale which was 140' thick. Mud logs indicated oil shows through the Eagle Ford Shale at this location.
The participants in the Lee County project are as follows (Participant Working Interest):
- Buccaneer Resources 52.50%
- Sandstone Energy 38.75%
- Megashine International Ltd 8.75%
- Cook Inlet Lease Sale Shows 'Positive Upturn' for Cook Inlet Exploration (May 18)
- Buccaneer Finalizes Transocean Jackup Acquisition (Nov 15)
- Buccaneer Looks North to Cook Inlet Potential (Oct 11)