Argosy Updates Southern Alberta Bakken Prospect
A recently drilled well in Argosy Energy Inc.’s emerging Exshaw/Bakken/Big Valley play in southern Alberta has been placed back on production for eight days using a bottomhole pump assembly.
The well earlier had been shut in for a pressure build up following a preliminary four-day flow period (DOB, Feb. 24, 2012). The well pressure reflects that the well is approximately 40 per cent over pressured and was in excess of 34 mPa, said Argosy.
The well is currently producing 250 to 280 bbls of fluid per day at a 50 per cent oil cut with oil rates of 125 bbls per day to 140 bbls per day of 36 degree API reservoir oil. More than 10,000 bbls of frac fluid still needs to be recovered and the well continues to clean up, it said.
A competitor’s offset well had initial reported production that indicated load fluid cuts of 34 per cent after a lengthy flow cleanup period prior to being put on production, Argosy noted. The fluid cut was further reduced over time to six per cent after four months of further reported production.
As with the offset well, Argosy believes that as the load fluid on its well continues to drop and the well cleans up the oil production will increase.