Valeura Energy has completed an eight-well drilling campaign at License B5/27 (100% operated working interest), offshore Gulf of Thailand, the company announced Tuesday.
“Block B5/27 is a prime example of how with ongoing drilling activity we can continue to commercialise new accumulations to maintain a stable and predictable stream of cash flow from each of our Gulf of Thailand assets,” said Sean Guest, President and CEO of Valeura Energy. “At the same time, we have appraised several additional reservoir intervals which will form the basis of a future drilling campaign on the block. We expect to demonstrate further reserves adds at our next year-end reserves evaluation, giving rise to yet another extension in the economic life of the field.”
Drilling campaign details:
Valeura drilled two development wells from the Jasmine C platform. Both wells were successful and exceeded management’s expectation for total oil pay and are currently online as producers.
Valeura drilled three wells from the Ban Yen A platform. Two were primarily development wells with additional appraisal targets, and one was a dedicated appraisal well. The two development wells were successful, having exceeded expectations for total pay, and are online contributing to production.
Valeura drilled two deviated development wells from the Jasmine D platform. Both were successful and are now contributing to production.
The Ratree exploration well intersected its target sand reservoirs as prognosed but encountered only trace amounts of hydrocarbons. Results suggest that oil did not migrate to this particular reservoir trend, resulting in insufficient hydrocarbon charge. Further prospective trends within the B5/27 block are being evaluated for future exploration potential.
The block B5/27 drilling program was completed safely, on time, and under budget, Valeura noted. As a result of the campaign, the company has maintained oil production rates approximately consistent with its Q1 performance, thereby offsetting the impact of natural declines.
Valeura’s contracted drilling rig is now being mobilized to the Nong Yao field, where the company plans to drill a program of approximately 10 development wells.
