Page 12 - LatAmOil Week 10 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Trinidad: Touchstone’s
Cascadura well tests
deliver combined average
of over 10,600 boepd
Touchstone Exploration has provided an explo- ration update, highlighted by an update on pro- duction testing of the Cascadura-1ST1 liquids rich gas discovery on the Ortoire exploration block, onshore Trinidad and Tobago (Touch- stone 80% working interest operator, Heritage Petroleum Company 20% working interest). .
Production testing of the Cascadura-1ST1 well was performed in two stages. Stage one included the lowermost 162 feet of pay in the Herrera formation, and the second stage included 345 feet of pay in the upper part of the same horizon. Pressure recorders from the first stage of testing have been recovered, and the recorders for the second stage are expected to be recovered in the next month. Flowback testing of the second stage of production testing has been completed, and unless otherwise noted, all pro- duction volumes referenced herein are stated in gross figures.
Stage two flow testing supports an initial pro- duction range between 7,750 and 9,700 barrels of oil equivalent per day (boepd), including an estimated 40-50mn cubic feet (1.133-1.416mn cubic metres) per day of natural gas and an esti- mated 1,100-1,400 barrels per day (bpd) of nat- ural gas liquids, significantly exceeding pre-drill expectations.
The second stage of production testing com- menced on March 8, 2020 and achieved a peak flowback rate of 5,760 boepd, including 29.4 mcf (832,600 cubic metres) per day of natural gas and 865 bpd of natural gas liquids.
24-hour extended stage two flow testing yielded an average of 5,472 boepd, including 28.1 mcf (795,800 cubic metres) of natural gas and 783 bpd of natural gas liquids.
Field estimates during the second stage of testing suggest an absolute open flow (AOF) potential of 120 mcf (3.4 mcm) per day.
As previously announced, initial testing com- menced on February 4, 2020, and delivered an average flowback rate of 5,157 boepd, including 26.8 mcf (758,900 cubic metres) per day of natu- ral gas and 691 bpd of natural gas liquids during the final 24-hour flowback period.
Downhole pressure recorders are expected be recovered in approximately one month, and the Company will subsequently use the pressure data, in conjunction with geophysical mapping, to define resource potential.
Paul Baay, President and Chief Executive
Officer, commented: “This second test, focusing on the upper 345 feet [105.2 metres] of pay, con- firms the material size of the discovery at Cas- cadura and the vast opportunity that exists on our Ortoire property. In addition to estimated production at our Coho discovery and our exist- ing production, this well gives us a clear path to 10,000 boepd with an estimated 75% natural gas and 25% liquids product mix.
“With domestic demand for natural gas exceeding current production, Touchstone is working with industry partners to bring these new volumes on-stream as quickly as possible. With the Cascadura well only 3 km from exist- ing infrastructure, we are evaluating the most efficient path forward to tie these significant vol- umes into the domestic sales network.” Touchstone Exploration, March 11 2020
Frontera announces
force majeure on
Block 192 in Peru
Frontera Energy announces an update on Block 192 in Peru.
Following the grant of a six-month contract extension on the Block, force majeure has been declared and accepted by Perupetro as a result of a community blockade which has impacted the power supply to the operations within the Block. It is the Company’s understanding that the blockade is related to the short-term contract extension and the prior consultation process related to a new long-term contract on the Block.
The period of force majeure will be added to the end of the short-term contract. It is uncertain as to when the force majeure will be lifted. All production needed for the delivery of Peruvian
cargoes for the first quarter of 2020 have been delivered to the port of Bayovar. So far in 2020, production from the Block has averaged 7,100 bpd.
Frontera Energy, March 09 2020
SERVICES
Equinor taps IKM Ocean
Design to study pipeline
for ultra-deepwater
BM-C-33 field in Brazil
Equinor has awarded IKM Ocean Design a pipe- line study contract for an ultra-deepwater site in Brazil. The scope includes a pipeline concept study for gas export from the BM-C-33 field to the coast of the Rio de Janeiro state in Brazil.
CEO of IKM Ocean Design, Peder Hoås, says we are very proud to support Equinor in the development phase of this internationally important ultra-deep-water field. This work will be a continuation of the IKM Ocean Design commitment to support Equinor’s major pro- jects with innovative and cost-effective solutions, which has been demonstrated during execution of the Johan Sverdrup, Johan Castberg and Troll Phase 3 as well as other projects.
IKM Ocean Design is a leading independ- ent subsea engineering provider with 35 years of experience and offices in Stavanger, Trond- heim and Oslo. IKM Ocean Design employs 90 engineers within the areas of subsea field devel- opment, subsea pipelines and cables, subsea structures and renewable energy engineering. IKM Ocean Design, March 10 2020
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Week 10 12•March•2020