Sidetrack Well in Canada's Rainbow Area Exceeds Expectations
The results of Cabot Energy plc’s 10-32 sidetrack well in Canada’s Rainbow area have ‘exceeded expectations’, according to the company’s CEO Keith Bush.
Drilled in December 2017, the well produced at a daily rate of 408 barrels of fluid per day during a recent flow test, of which 344 barrels were oil, Cabot Energy revealed.
The 10-32 sidetrack kicked off from the original well bore at a depth of 1,244 metres and extended for an additional 988 metres. The true vertical depth of the well is 1,541 metres.
Well 10-32, which is expected to produce dry oil, is scheduled to be put on production with a pump later in January. The initial rate is expected to be approximately 200 barrels of oil per day ‘to manage the longer term production potential of the reservoir,’ Cabot Energy said in a statement on its website.
"This is the company's second sidetrack well and the results have again exceeded expectations. These higher production rates will further improve the robust economics of the project,” Bush said in a company statement.
"The next phase of the development of the Rainbow and Virgo areas will focus on sidetrack wells from existing well bores, of which up to 10 are planned for this year,” he added.
GMP FirstEnergy described the sidetrack well result as ‘positive’ in a brief research note sent to Rigzone.
The note also highlighted that if additional sidetrack wells deliver rates in line with the 10-32 well, Cabot Energy’s year-end 2018 output guidance of between 1,600 and 2,000 barrels per day might be too conservative.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- USA Commercial Crude Oil Inventories Increase
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call