LONDON--Jubilant Energy N.V. (JUB.LN) Wednesday announced that
KSG No. 68 (previously referred to as KPL-3E-2) located in the
Kharsang Field, Arunachal Pradesh, India, has successfully tested
for oil and has been put into production at an initial gross rate
of 94 barrels of oil per day (bopd).
MAIN FACTS:
-Well is an infill development well in the southern part of the
Kharsang Field with the S-00 reservoir sand layer as the primary
objective and M-00, Q-00 and T-00 sand layers as secondary
objectives.
-Well, spud on May 17, was successfully drilled to a revised
target depth of 1,510 meters Measured Depth (MD) (1,328 meters True
Vertical Depth).
-Based on the updated wire line log interpretation, mud log
shows and formation pressure data from the Reservoir Dynamic
Tester, the Consortium identified total net pay of 69 meters, out
of which 24.2 meters appears to be oil bearing.
-Detailed testing was carried out in the interval 1,320-1,326
meters (with 4.8 meters net pay), which commenced on July 6, and
the well is currently producing at a rate of around 94 bopd in self
flow.
-An up-hole potential of 19.4 meters of net high Gas Oil Ratio
(GOR) oil and 44.8 meters of gas bearing sands have also been
identified in this well.
-GeoEnpro Petroleum Ltd., a joint venture between GeoPetrol and
Jubilant Enpro (a member of Jubilant Bhartia Group), is the
operator of the Kharsang Field.
-Jubilant holds a 25% interest in the block through subsidiary,
Jubilant Energy (Kharsang) Pvt. Ltd.
-Other members of the consortium are Oil India Ltd. (533106.BY)
and GeoPetrol.
-Shares of Jubilant Energy at 0745 GMT unchanged at 2 pence.
-Write to Tapan Panchal at tapan.panchal@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires