International Western Petroleum Inc. (IWP) has reported that the company has completed the 6-well drilling programme of the Bend Arch Lion 1B project. This encompasses 220 acres in Coleman County, Texas, US.
With a 100% success rate from this designated drilling programme the Bend Arch Lion 1B Joint Venture anticipates starting the full production of all 6 new producing oil and gas wells in mid-March. High quality proven reserves were encountered encompassing several pay zones highlighted by the Gray Sand pay zone and the Ellenburger formation. Following the completion of this drilling programme, the company now owns working interests in 10 wells.
Dr. Benjamin Tran, International Western Petroleum's Chairman, said: "We believe this is a strong achievement for our company to gain a new foothold in the Central West Texas region, thus strengthening our position in the sub 5000 ft exploration capability which is our niche in the region."
CEO, Ross Ramsey, added: "Our next practical step for this new production field is to apply cutting edge intelligent fields technologies to increase productivity and longevity to ensure our continual growth. We also plan an Enhanced Oil Recovery program to improve the production of the Bend Arch Lion 1A concession starting this month with additional fracking into its highly producible pay zones."
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/07032016/iwp-completes-6-well-drilling-programme-2683/