2nd Jul 2014 09:39
LONDON (Alliance News) - Oilex Ltd said Wednesday that it had completed its stage 1 fracture stimulation at the Cambay-77H well in India, and it plans to re-start fracking operations at the well as soon as possible after a leak caused a slight delay.
The company said that gas was detected at the surface level during stage 1, and it measured an elevated overpressure of 5,000 pounds per square inch. This is an increase in indicated pressure from its original interpretation of 4,4330 pounds per square inch.
During a system wide pressure test to 9,300 pounds per square inch ahead of its stage 2 operations, a leak developed, and the company has opted to replace faulty components with spares at the site before proceeding further.
Shares in Oilex were trading up 1.1% at 6.52 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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