Block Energy, a Georgia-based development and production company, has completed drilling operations for the WR-34Z well.
The company said in a press release that the well reached full depth and that drilling operations have now ceased. The company also said that testing of the well will begin shortly after completion. Block Energy noted that the drilling operations were successfully carried out by its in-house operations team, without incident, on time and within budget.
The drilling of the WR-34Z well follows two successful wells, JKT-01Z and WR-B01Za, which have significantly improved the company’s production profile, the company said. As with those wells, WR-34Z is a low-cost lateral hole drilled from an existing donor well, Block Energy noted. The company said the well follows horizontally the top of the middle Eocene formation to maximize well productivity by maximizing the well’s exposure to productive fractures.
Well WR-34Z is Block Energy’s third Project I of five planned wells developing the Krtsanisi anticline area of the West Rustavi-Krtsanisi field. ERCE, the company’s reserves auditor, has attributed 3P gross reserves of 3.01 Mbbl, with a net present value of $57.0 million to this area. Block said internal estimates attribute 27.5 MMbbls of 3C contingent resources to the full field development of the West Rustavi-Krtsanisi Project I.
“We are encouraged by the progress to date on the WR-34Z well, with drilling operations that have gone successfully to plan. The well will now be tested before being put on production along with the other two successful Project I wells .I would like to thank our internal operations team and the underground team for all their hard work, which has once again ensured that this program met its pre-test objectives by delivering the plan safely, to on time and within budget. We look forward to providing an update on the WR-34Z trials soon,” said Paul Haywood, CEO of Block Energy plc.
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