Cooper Energy?s production share from Sukananti KSO up 14%
Tuesday, January 20 2015 - 01:23 AM WIB
ASX-listed Cooper Energy reported Tuesday that its share of production from the Sukananti KSO (Cooper Energy 55%) in South Sumatra in the fourth quarter of last year was 16.5kbbl (180 bopd), 14 percent above the previous quarter?s 14.4 kbbl (145 bopd).
?This is the highest quarterly production achieved in Cooper Energy?s tenure and represents a six-fold increase on the production rate recorded prior to the license being shut-in by the previous operator,? the company said in a statement.
Cooper said that a development drilling program in the Sukananti KSO commenced on December 31 with the spudding of Bunian-3. The well?s primary target is the Talang Akar Formation TRM-3 sand, which is currently producing approximately 200 bopd and has cumulatively produced 960,000 bbl oil from Bunian-1. Bunian-3 is located approximately 730 meters south-west of Bunian-1. On completion of Bunian-3 the drilling rig will move to the Tangai-5 well site. Bunian-4 is a contingent well that may follow Tangai-5 dependent upon the results from Bunian-3.
Elsewhere, Cooper said that Interpretation of the 257 km, 2D seismic survey acquired in the Sumbagsel PSC (Cooper Energy 100%), also in South Sumatra, is complete. The survey delineated a number of leads and identified some new targets for future evaluation.
Interpretation of 1,490 km of reprocessed 2D seismic data from the Merangin III PSC (Cooper Energy 100%) is also complete, it added. This work will high-grade areas of the permit for future seismic acquisition.
A process to farm out equity in the Sumbagsel and Merangin III exploration permits continued during the December quarter with a number of interested parties reviewing the assets. Discussion with interested parties will continue into the current quarter, Cooper said.
Editing by Reiner Simanjuntak