Equatorial Energy records 90 percent drilling success in Indonesia
Saturday, May 26 2001 - 06:00 AM WIB
Calgary based junior oil and gas company Equatorial Energy Inc.said Friday its average oil production in Indonesia during January-March quarter was 4,806 barrel per day (bpd).
The company said in its release that production levels during the first quarter were lower than expected due to sand migration production problems in 2 of the new wells at Sembakung Technical Assistance Contract (TAC) area, while rain delayed drilling at Tanjung Lontar TAC
Equatorial Energy operates Sembakung TAC in North-East Kalimantan and Tanjung Lontar TAC in South Sumatra.
According to the release, the sand problems at Sembakung were being dealt with through the use of jet pumps in those wells with sand production.
The rain has subsided at Tanjung Lontar and drilling has recommenced.
In Indonesia, the Company was 90 percent successful in the drilled and completed wells to date.
At Sembakung, said the release, the company drilled and completed 4 oil wells. The 2 drilled before the end of the first quarter are producing 680 bpd in total and the last 2 wells drilled are averaging 900 bpd each.
At Tanjung Lontar the Company drilled and completed 5 shallow oil wells subsequent to the end of the quarter, and experienced one exploration dry hole in the first quarter. The 4 producing wells are averaging 410 bpd in total.
The company said drilling would continue throughout 2001 with another 20 wells at Tanjung Lontar and at least another 4 wells at Sembakung.
The company also said during the quarter expenditure for its Indonesian unit was C$ 7 million. (*)