Today's AED ann. The news gets better and better for NWE. Seriously undervalued....
Puffin-8 Flowtest Supports 15–20,000 stb/d Production Expectation The Puffin-8 production well has been flow-tested at an estimated maximum rate of 11,660 stock tank barrels per day (stb/d) on a 52/64” choke, with a flowing wellhead pressure of 651 psig. The measured crude gravity is approximately 44o API, consistent with Puffin-5 and Puffin-7. The oil flowrate was limited by testing equipment deployed on the drilling rig and calculations show that the well is capable of flowing at a stabilised rate of 15-20,000 stb/d, very similar to the Puffin-7 well. The Puffin-8 well performance is considered another excellent outcome. The well was tested at various rates over a period of 27 hours, during which time Base Sediment and Water (BSW) quickly reached negligible levels, i.e. less than 0.1%. The well was initially tested by passing the well stream through the separator, reaching a maximum stabilised separator rate of around 9,000 bopd on a 44/64’ choke (8,480 stb/d). At higher choke settings the well stream had to bypass the separator, hence no direct rate measurement was possible. Rates at higher choke settings were determined through an equation established between flowrates and choke sizes at lower rates. The well was successively tested at rates of 3,570 stb/d (28/64” choke) and 5,770 stb/d (36/64”) through the separator, and when bypassing the separator at 8,460 stb/d (44/64”), 10,010 stb/d (48/64”), culminating in 11,660 stb/d on a 52/64” choke. Reservoir appraisal by this well and subsequent reservoir simulation has also confirmed that the Puffin-8 well will be draining additional reserves to Puffin-7. As the second well in the development, Puffin-8 will give additional security of production.
NWE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
