Mayan Energy Ltd: initiation of production at two US onshore wells

Forest Hill Field, Wood County, Texas (Mayan 70% Working Interest/52.5% Net Revenue Interest)

• Gilbreath #19 has been brought on line with 55 barrels of oil produced from the Sub Clarksville formation at a depth of 4510'-14 and 4520'-24' (ft) during the initial 24 hours of operation; we anticipate production stabilising at these levels.
• The workover of the Collins well, the third in the eight well programme, has been completed.
• The Roke Quad Neutron log is expected to be run shortly in both the Collins well and the previously worked over Amason #1 well to identify other formations that are prospective for oil and gas.
• Open hole electric logs obtained on both wells indicate the Upper Sands in the Sub-Clarksville formation are productive of oil and these zones could contribute considerably to daily production rates.
  • Oil sales from the Gilbreath #15 well which is currently being worked over are expected to commence this week including 200 barrels recovered from previous work carried out on the well.
• The rig will be remaining on site to complete a further five workovers at Forest Hill for a total of eight wells starting with Gilbreath #15, the fourth well in the programme.

Stockdale Field, Wilson County, Texas (Mayan 60% Working Interest/45% Net Revenue Interest).

• Morris #1 well has been put on production at a rate of 24 26 bpd from the Upper Anacacho (4823 ft - 27 ft).
  • Represents a circa 50% increase on the 16 - 18 bpd rate Morris#1 produced at (see RNS dated 8 November 2017) prior to determination of the need to lay a water line to facilitate continuous production.
• On this well, the Company plans to remove the sand plug from the Lower Anacacho and acidise both the Upper and Lower Anacacho formations in the next few weeks after which it will commingle production from both the Upper and Lower Anacacho formations.
• Following this, the Company expects the Morris #1 to produce at a rate within the 35 - 50 bpd range.

Eddie Gonzalez, Managing Director, said: “The workover programme is gaining momentum and we are now seeing the first of multiple wells across our diversified Texas focused asset base entering full time production at rates consistent with our expectations. We are in the process of lease acquisition and planning is underway and we will have more to say about the next leg of our production growth strategy as the initial workover programme draws towards completion. With production on course to commence at an initial rate of 1000 bpd at the Asphalt Ridge Project in Utah in which we have an indirect interest via our Deloro investment in Q1 2018, the next few months will not be short of high impact newsflow.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/13022018/mayan-energy-ltd-initiation-of-production-at-two-us-onshore-wells/