Cooper Energy?s share of production from Sukananti KSO up 12%
Thursday, April 23 2015 - 01:07 AM WIB
ASX-listed Cooper Energy reported that its share of oil production from the Sukananti KSO, South Sumatra, (Cooper Energy 55%) during the March quarter increased by 12 percent to 18.2 kbbl (202 bopd) from the previous quarter?s 16.5 kbbl (180 bopd).
The company said in a first quarter report released Wednesday that the figure was the highest quarterly production achieved in Cooper Energy?s tenure.
Cooper said the March quarter production represents a seven-fold increase on the rate recorded prior to the licence being shut-in by the previous operator.
The company said that a development drilling program in the Sukananti KSO consisting of two firm wells and one contingent well commenced on December 13, 2014 with the spudding of Bunian-3.
Bunian-3 ST2 will be tested via a temporary production facility immediately after the drilling rig is moved off site. Following Bunian-3 ST2 the rig will move to drill the Tangai-5 development well, the company explained.
Elsewhere, Cooper said seismic survey planning is in progress in the Sumbagsel PSC, South Sumatra (Cooper Energy 100%). An application to relinquish 15 percent of the original contract area as per the conditions of the permit contract was submitted to the Indonesian upstream oil and gas regulator SKKMigas.
Interpretation of the Merangin III PSC, South Sumatra (Cooper Energy 100%) dataset is being revised following sourcing of additional modern seismic data which 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 March quarter with severalinterested parties reviewing the assets. Discussion with interested parties will continue during the June 2015 quarter, the company said.
Editing by Reiner Simanjuntak