17th Jun 2014 11:22
LONDON (Alliance News) - Ithaca Energy Inc Tuesday said it has successfully drilled the third development well at the Stella field in the North Sea, and it has encountered high-quality reservoir sands.
The North Sea oil and gas operator said its 2014 production enhancements programme is progressing as planned and guidance for the year remains unchanged at 11,000 to 13,000 barrels of oil equivalent per day.
"We are very pleased with the high quality reservoir sands encountered by the Stella B1 well and look forward to the flow test results when we finish well completion operations," said Chief Executive Les Thomas in a statement.
Ithaca Energy said the third development well on the Stella field - well 30/06a-B1X, known as Stella B1 well - has been successfully drilled to a total measured depth subsea of 16,185 feet. It said the well intersected high-quality sands across a net reservoir interval of 2,034 feet, equating to 95% net pay. This compares to 1,312 feet and 2,514 feet in Stella wells A1 and A2, respectively.
Shares in Ithaca Energy were trading 1.4% higher at 142.00 pence Tuesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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