HOUSTON (April 7, 2016) – NUTECH, one of the world’s leading companies in reservoir characterization and intelligence, has announced that the third phase of the flow test for the major international oil discovery it identified in a report to UK Oil & Gas Investments PLC (UKOG), an independent exploration company, has been completed. Following the completion of the flow tests, the Upper and Lower Kimmeridge limestone intervals of the Horse Hill-1 well in the Weald Basin are producing at a combined average stable rate of more than 1,360 barrels of oil per day (bopd), and the HH-1 Portland test flowed at a stable dry oil rate of 323 bopd, bringing the final total aggregate stable dry oil flow rate from these intervals to stand at 1688 bopd—likely the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well.
Both the Upper and Lower Kimmeridge limestone intervals are producing light, 40-degree API, sweet oil flowing naturally to the surface, without pumping, at an average stabilized rate in excess of 900 barrels per day from an 88-foot aggregate perforated zone at a depth of approximately 840 meters below ground and in excess of 463 bopd from an 80-foot zone at a depth of approximately 900 meters below ground level, respectively. The final Portland test of 323 bopd, over an 8.5-hour period, was produced at maximum capacity and showed no clear indication of completion and has the potential to be further increased using a higher capacity downhole pump during the next planned test.
After being appointed independent assessor of the HH-1 well by UKOG in Jan. 2015, NUTECH used its proprietary NULOOK petrophysical analysis solution, a process which uses conventional open hole well logs to analyze the texture of the tested reservoir rock, to provide the Company with a report identifying the Horse Hill Upper Kimmeridge formation as holding approximately 72 percent of OIP. In June 2015, NUTECH’s preliminary assessment of the HH-1 well was confirmed in a report issued by Schlumberger estimating the overall oil in place (OIP) for the Jurassic section to be even more impressive than NUTECH’s early projections.
“Our extensive experience, paired with our proprietary petrophysical technologies, allowed us to confidently predict an accurate volume estimate for the Horse Hill-1 well from our initial assessment,” said Allen D. Howard, executive vice president and chief commercial officer, NUTECH. “The completed flow test has yielded extremely positive results allowing this well to have one of the highest performing wildcat test rates in the history of wells drilled onshore UK. We are pleased to have been a part of proving the exceptional significance of the HH-1 well for not only the Weald Basin, but for all of the UK, and look forward to continuing to work alongside the contracted alliances as long-term production tests are conducted.”
NUTECH has been commissioned to investigate a possible upgrade to the OIP calculated within all three test zones together with engineering studies to examine possible flow rates from a horizontal well. Further analysis of data is ongoing and will be reported once available.