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Trinidad: Touchstone announces Cascadura-1ST pressure analysis and independent verification of test results


15 Jun 2020

Photo - see caption

Touchstone Exploration has announced final production test results from the Cascadura-1ST1 well on the Ortoire exploration block. The final test results for both the lower test (6,056 to 6,218 feet) and the upper test (5,570 to 5,915 feet) have been reviewed by the Company’s independent reserves evaluator, GLJ, and the following information is intended to complement initial production test results previously released by on February 6, 2020 and March 11, 2020.

Highlights

Upper test

  • Flow and buildup test results suggest an Absolute Open Flow ('AOF') natural gas rate of 390 million cubic feet per day ('MMcf/d') at the sandface.
  • Final 24-hour extended flow test rate, limited by capacity of surface test equipment, averaged 5,472 barrels of oil equivalent per day ('boe/d'), 86% natural gas, at a final sandface drawdown of 4%. Pressure data suggests that the well was still cleaning up at the end of the extended test period.
  • Condensate Gas Ratio ('CGR') was 28 barrels of 55° API condensate per million cubic feet of natural gas produced ('bbls/MMcf') during the extended flow test.

Lower test

  • Flow and buildup test results suggest an AOF natural gas rate of 92 MMcf/d at the sandface.
  • Final 24-hour extended flow test rate, limited by the capacity of surface test equipment, averaged 5,157 boe/d, 87% natural gas, at a final sandface drawdown of 12%. Pressure data suggests that the well was still cleaning up at the end of the extended test period.
  • CGR was 26 bbls/MMcf of 55° API condensate during the extended flow test.

Analysis

  • Gas analysis indicated sweet, liquids rich natural gas with no hydrogen sulfide and no entrained water.
  • Based on the data obtained during both tests, the Cascadura-1ST1 reservoir appears to be unbounded within the area of investigation, confirming a larger pool than originally anticipated.
  • Absolute Open Flow Potential ('AOFP') modelling indicates that it is reasonable to design for an initial gross production rate of between 7,750 and 9,700 boe/d (6,200 to 7,760 boe/d net) based on estimated gross rates of 40 to 50 MMcf/d of natural gas and 1,100 to 1,400 boe/d of condensate.
Photo - see caption

James Shipka, Chief Operating Officer, commented:

'We are extremely pleased with the final testing data and GLJ’s independent analysis of the stage one and stage two information, as both confirm the tremendous potential of the Cascadura-1ST1 discovery. The low sandface drawdown, high reservoir pressure, and rapid recovery suggest a sizeable reservoir with excellent production potential. With minimal drawdown observed while flowing and with no boundaries seen in the analysis, the pressure data confirms that the Cascadura pool is larger than the area of investigation observed during the tests. On this basis, we will likely require additional drilling and production at Cascadura to fully understand and optimize production from the structure. We are now working with GLJ to complete an independent reserves evaluation for the Cascadura feature, which we expect in July. The evaluation will use the test data along with wireline logs, analogous pool data, offset production and seismic to properly assign reserves to the pool.

The team remains on course to begin drilling at our next prospect, Chinook, in July, where we are keen to explore a separate structure along the same geological trend. With several near-term catalysts for the Company, now is an exciting time for Touchstone, and we look forward to updating all our stakeholders in due course.'

Click here for full announcement

Source: Touchstone Exploration





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