29th May 2018 11:55
LONDON (Alliance News) - 88 Energy Ltd said on Tuesday it has scheduled the flowback of the Icewine No. 2 oil well, onshore Alaska, for June 11.
Site works have been completed at the Franklin Bluffs Pad ahead of scheduled commencement of flow testing of the well, with memory gauges from 4,000 inches downhole were also successfully retrieved.
Processing and analysis of the pressure build-up data will be completed by early next week, with the wireline unit also "tagged bottom" confirming no build-up in debris in the tubing during the shut-in period.
Pressure at the wellhead was measured in the range of 3,000 psi and 3,500 psi based on a pressure reading of 5,200 psi at 4,000 inches. In regards to the maintenance of downhole pressure, these are positive pressure readings.
The flow testing program has been designed to use nitrogen lift to help with the removal of up to 4,000 barrels of fluid from the HRZ reservoir. Based on the modelling of the reservoir pressure and fracture conductivity, this is estimated to take 10-14 days.
Shares in 88 Energy were up 2.7% at 2.42 pence on Tuesday.
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