5th Dec 2018 09:53
LONDON (Alliance News) - Regal Petroleum PLC on Wednesday said the B17 reservoir was put on production at its Vasyschevskoye gas & condensate field in Ukraine.
The AIM-quoted oil & gas company spudded the VAS-10 well in March and drilled it to the depth of 3,380 metres. The company targets two reservoir zones in the Visean formation, comprising of the B-16/17 and the deeper B-25/26.
On Wednesday, regal Petroleum said initial tests on the B-25/26 reservoirs at a depth between 3,319 metres and 3,324 metres were performed, but these reservoirs was not able to establish a stabilised flow rate.
As a result, testing of the shallower B-17 reservoir has been performed. Regal Petroleum said it drilled two intervals of 3,300 to 3,304 metres depth and 3,282 to 3,288 metres depth for initial testing.
During this testing, strong gas and condensate flows were recorded. As a result, the company said the well has been hooked up to the gas processing facility to allow longer-term production testing to be conducted to optimise the operating parameters of the well.
Currently, this well is producing at a stabilised flow rate of 55,000 cubic metres of gas per day and 10 cubic metres of condensate daily.
Regal Petroleum shares were trading 2.3% higher on Wednesday at 45.00 pence each.
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