Scandoil  

Northern Petroleum shuts in several wells for further evaluation


Published Feb 11, 2015
Northern Petroleum-4

Northern Petroleum provides the following update regarding drilling and operational activities in north west Alberta, Canada.

Highlights

Drilling •Well 102/11-30, targeting a reef previously undrilled by the Company, was drilled and tested as planned •Significant reef section encountered, as forecast from seismic interpretation •Two separate zones isolated and tested: ◦lower zone water wet ◦upper zone produced oil, but with too high a water cut to be economic in the current oil price environment •Well suspended for further evaluation •Period of subsurface analysis now started to integrate results into Northern Petroleum's understanding of the Keg River play and impact on the Company's development options

Production •102/15-23 well produced intermittently on natural flow during January •Pump now being installed to establish stable production, using the service rig from 102/11-30 •Three other wells which are yet to be tied in have been shut in to release expensive rental equipment ◦16-19 well planned to be brought back into production following the purchase of a production package which is currently under negotiation ◦water disposal options being evaluated to bring the two other wells back into economic production

•Full production update and forecast will be published once these operations are complete, and will include a broader corporate update on other assets and general costs

Tags: Northern Petroleum




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