13th Apr 2015 07:34
LONDON (Alliance News) - Ithaca Energy Inc on Monday said the flow test conducted on the final development well in the Stella field in the North Sea was successful.
Ithaca said the A3 well achieved a flow rate of 8,000 barrels of oil equivalent per day. It is currently in the process of being suspended and operations are set to complete in the next couple of days, Ithaca said.
In line with the previous development wells in the field, the suspension has been carried out to ensure the well can be brought into production without further well intervention activity once the floating rate production facility is on site.
The five development wells drilled at Stella have achieve a combined maximum clean-up flow test rate of 53,000 barrels of oil equivalent per day, Ithaca said, well ahead of the 30,000 barrels initial annual production forecast for the site.
"We are very pleased to have delivered another successful flow test on the fifth and final well in the Stella development drilling programme," said Ithaca Chief Executive Les Thomas.
Shares in Ithaca were up 3.3% to 46.50 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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