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Petro-Reef Resources Ltd.’s recently drilled 11-12-56-27w4 Detrital sand oil well is now on stream, producing an average of 160 b/d of oil with a 3% water cut.
The company operates and has a 94% working interest in the well. The well is expected to meet its allowable 125 b/d during the initial four-month production test period based on the initial performance and the historic performance of the other wells in the pool.
Petro-Reef is making preparations to drill the next well in the development program, expected to spud in September, at 15-12-56-27w4. Based on 3D seismic interpretation, at least three more additional delineation wells remain to be drilled on the pool. Petro-Reef also has commenced the preliminary work necessary to make an application for a waterflood program on the Detrital sand oil pool. The company has working interests ranging from 79% to 94% on the lands covering the pool.
Current corporate production is 820 boe/d with approximately 59% being crude oil and natural gas liquids production.