Europa Oil & Gas to carry out extended test production on Hykeham-1 well
08 December 2009
UK exploration and production group Europa Oil & Gas is set to put its Hykeham-1Z well onto an extended test following the completion of drilling there.
Independent wireline log analysis has identified 4 net metres of oil-saturated Basal Sandstone with approximately 16% porosity and 60% oil saturation. This unit is the same as that encountered in the Whisby Field wells, some 1.5km to the north-west of Hykeham. In addition to this Whisby equivalent sand, the log analysis indicated an additional potential 4.4 metres of pay in sands above this unit.
Europa has now cased and cemented the well and the rig is being demobilized from the site. Hykeham-1Z is situated on the PEDL150 licence near Lincoln, onshore UK.
The Whisby Field as a whole, where the Basal Sandstone average thickness is less than 4m, has produced approximately 700,000 barrels of oil to date from three wells – representing a total revenue of $50million at today's oil price. As profits from Hykeham are not expected to be liable for the 20% supplementary tax charge, the development has a significantly higher post-tax value per barrel.
Europa’s forward programme is to perforate the lower 4m pay interval and flow test it into temporary production facilities for up to six months. This will be achieved without the need for a rig and production will be exported to the refinery via Europa's existing facilities.
Paul Barrett, Managing Director of Europa, said: “An extended welltest, expected to commence in January, will not only provide valuable reservoir information but generate early revenues from the project.”
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