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Touchstone Exploration: drilling programme update

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Oilfield Technology,


Touchstone Exploration Inc. has provided an operational update with respect to the company’s 2017 drilling campaign and recompletion programme.

Highlights

  • Completed the drilling of two wells on the Coora 1 Block encountering a combined net oil pay of approximately 665 ft.
  • The two wells were completed on time and within budget, exceeding expectations with regards to oil potential.
  • The successful drilling results are in line with the growth strategy and drilling program that the company outlined in its Pre-Admission Document presented in conjunction with its recent Intention to Float on the AIM market of the London Stock Exchange.

Drilling campaign

Coora 1 Block

The CO-368 well was spud on May 12, 2017 and was drilled to a total depth of 5360 ft on May 21, 2017. Wireline logs indicate approximately 345 feet of net oil pay as follows:

  • Upper Forest Formation: 55 ft.
  • Lower Forest Formation: 95 ft.
  • Cruse Formation: 195 ft.
  • Total (Net) Oil Pay: 345 ft.

The company cased the well for oil production and has deferred the completion of the well until after the second well in the program, the CO-369 well, was drilled as the two wells share a common surface location. The initial completion in the CO-368 well will target lowermost oil sand encountered in the Cruse Formation.

The CO-369 well was spud on May 25, 2017 and reached a total depth of 5,627 feet on June 3, 2017. The CO-369 well was drilled to access hydrocarbons in a separate, but adjoining fault block to the CO-368 well. Wireline logs indicate the presence of approximately 320 feet of net oil pay and the Company has cased the well and expects to complete the well for oil production in the next 30 days. Wireline logs indicate the presence of oil pay in both the Forest and Cruse Formations, as follows:

  • Upper Forest Formation 60 ft.
  • Lower Forest Formation 110 ft.
  • Cruse Formation 150 ft.
  • Total (Net) Oil Pay 320 ft.

The company will commence completion operations on the CO-368 well as soon as possible and will complete the Cruse sands in the CO-369 well immediately thereafter.

Grand Ravine WD-4

The drilling rig is currently being moved to the third planned location of the program in Grand Ravine WD-4. Two wells will be drilled on the block from a common surface location, targeting prospective resources in separate fault blocks.

Recompletion programme

The Company also performed two recompletions over the past month, perforating the CO-13 well in the Coora 2 Block, and the FR-564 well at Forest Reserve WD-8. The CO-13 well has been on production for 30 days at an average estimate field production rate of 18 barrels of oil per day while the FR-564 well has only two days of production following the recompletion. The Company’s next recompletion, the QU-302 well on the Coora 1 block will be perforated this week and the Company remains on track to perform 24 recompletions in 2017.

James Shipka, Chief Operating Officer said:

“We are pleased to announce that the first two wells of our 2017 drilling program have been drilled on time and within budget. Our drilling program is fundamental to our growth strategy and these results have met or exceeded our expectations with respect to oil potential. I look forward to bringing these wells on production and continuing to move forward with our drilling campaign in Grand Ravine WD-4.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/07062017/touchstone-exploration-drilling-programme-update/


 

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