Alba Mineral Resources plc: Horse Hill production update

• Aggregate test production from the Portland reservoir at the Horse Hill oil field now exceeds 10 000 bbls.
• The continuous Portland dry oil flow (i.e. oil with zero water content), at a stable daily average rate of over 220 bpd, forms a key part of the schedule of works required to finalise the Portland field development plan and to the Operator's target of establishment of permanent long-term Portland production by end 2019.
• Rig tender documents have been issued to contractors for the drilling of the HH-2 Portland and HH-1z Kimmeridge appraisal/production wells for which planning and environmental permits are in place, with drilling targeted to start in spring 2019.
• HH-1 test production is planned to continue until the completion and testing of the new HH-2 Portland well.

Further, the Operator has provided the following summary of extended well test ("EWT") results to date:

• Over 35 000 bbls aggregate Kimmeridge and Portland oil production to date.
• Over 25 000 bbls total Kimmeridge oil production.
• Over 10 000 bbls total Portland production to date, with flow continuing.
• 165 tankers of crude exported primarily to Perenco's Hamble oil terminal. The Portland's 36° API Brent quality crude, containing zero produced water, continues to be sold at prevailing Brent crude oil prices, less a small deduction for handling and marketing.

George Frangeskides, Alba's Executive Chairman, commented: "We are pleased to see continued stable production reported from the Portland Sandstone and look forward to further updates from the Operator as the programme continues.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/15032019/alba-mineral-resources-plc-10-000-bbls-of-portland-oil-production-reached-at-horse-hill/