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I3 Energy PLC pleased with outcome of drilling on its first Marten Hills Clearwater well

“Apart from periods of facility maintenance, production levels in Q2 have consistently been above 9,000 boepd,” said CEO, Majid Shafiq

I3 Energy PLC () said it is “very pleased” with the outcome of the drilling operation at its first Marten Hills Clearwater well in Canada.

Drilling on the Marten Hills 01-12-075-26W4 well started in mid-June, targeting the 25-metre (m) thick Clearwater C sandstone and finished on 30 June 2021 to a maximum true vertical depth of 630m.

Eight horizontal lateral sections, for a total of 13,057m in length penetrating the reservoir, were successfully drilled from this well-bore with operations having progressed on time and on budget, i3 said in an operational update.

All laterals drilled have encountered a clean upper shore-face sandstone, with porosities ranging from 24% to 27%, and oil has been evidenced throughout by oil shows on cuttings. The rig has been moved to the second well in the Marten Hills Clearwater drilling programme at 02-12-075-26W4, with drilling expected to finish mid-July.

Tie-in and equipping of the wells are expected to take five days following rig release, with production from both wells anticipated to commence in late July.

“We are very pleased with the outcome of the drilling operation on our first Marten Hills Clearwater well. The reservoir intervals drilled look to have excellent geological characteristics and we look forward to production results later this month,” said Majid Shafiq, the chief executive officer of i3.

The company also revealed that production in the second quarter of 2021 remained above the 9,000 barrels of oil equivalent per day (boepd) level, averaging 9,142, despite production being tempered by routine maintenance on third-party facilities.

Production since the start-up of the Noel well on 17 June has averaged 9,353 boepd.

Read More: I3 Energy PLC pleased with outcome of drilling on its first Marten Hills Clearwater well

2021-07-02 01:40:00

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