Ascent Resources: first gas from Pg-10

The company has been involved in Slovenia for nearly ten years and almost €45 million has been invested over the course of the project by Ascent and its partners. As such, the first sale of gas from a joint venture well marks a significant milestone in the life of the project and provides a testament to the commitment of the partners who have worked together to overcome significant historic hurdles.

Bringing Pg-10 into production is the first step in our phase one development plan. The company is now moving to the recompletion of Pg-11A, which will begin later this month, and this will be followed by the commencement of export sales.

Pg-10

Well Pg-10 is a vertical well with an 'S' deviation, which was drilled to a total depth of 3497 m in 2011. The well targets the 'F' sand at 3125 to 3175 m and was successfully flow tested in January 2017, after it was recompleted for production. Gas from Pg-10 is being treated at the existing CPP (gas processing facility) from where it is being transported for sale.

Pg-11A

The partners plan to begin the recompletion of the second joint venture well, Pg-11A, by the end of this month with the work programme anticipated to run for around four weeks. Pg-11A targets the L, M and N sands at a depth of 3108 to 3241 m. The work programme will replace a section of the tubing string and make the well ready for production.

Infrastructure for gas to INA

All the equipment required to facilitate production to INA has been ordered and, subject to timely delivery, the company plans to begin production to INA by the end of June 2017.

IPPC Permit

Following the favourable decision of the Environment Ministry in March 2017 we are optimistic that the IPPC Permit will be declared finally valid later this year. This will enable the company and its partners to begin producing gas into the Slovenian grid and move the project into its next phase.

Funding

Efficient planning and equipment ordering is expected to result in significant savings from the budget to bring the field into production.

Colin Hutchinson, CEO, commented:

"The Board is extremely pleased that this day has finally arrived and would like to thank our staff, our partners, the Slovenian administration and our shareholders for making this possible. Today marks the company's official shift from explorer to producer."

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/13042017/ascent-resources-first-gas-from-pg-10/