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Strike Energy "cranks up" oil production from Texas Eagle Ford Shale well  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 20/11/2012

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(MENAFN - ProactiveInvestors - Australia) Strike Energy (ASX: STX) continues to increase oil production from its Bigham-1 Eagle Ford Shale production well in Texas as it continues to clean up.

Current production is now about 240 barrels of oil and 520,000 cubic feet of gas along with 960 barrels of water " primarily fracture stimulation fluid.

The oil cut of around 20% is steadily building and Strike believes the full potential of the well cannot be properly assessed until the large volume of frac water being produced has substantially cleaned up and the oil cut has stabilised.

With just 15% of the fluid pumped during fraccing recovered to date, this process is expected to take several weeks to complete.

Bigham-1 has also been switched from temporary testing facilities to the permanent production facilities and the gas sales pipeline is scheduled to be connected in mid-December.

Well performance since flow back started has allowed Strike to conclude that fraccing had opened a large effective fracture volume and the gas oil ratio and gravity are consistent with other Eagle Ford wells along tend.

Strike participates in over 37,400 acres in the Eagle Ford Shale through its 27.5% interest in the Eagle Landing Joint Venture.

 






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