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PetroNeft says flow rates at Russian oil well exceed expectations

PetroNeft said it had successfully tested parts of a new oil well in Russia.

PetroNeft says flow rates at Russian oil well exceed expectations


Moscow, August 29 - Neftegaz.RU. PetroNeft said it had successfully tested parts of a new oil well in Russia.

The Cheremshanskoye № 4 well flowed at 339 bfpd from 2 intervals, exceeding expectations, the company said.

It was the 1st well to be drilled with the help of 3D seismic data acquired by PetroNeft in 2014 and was approximately 5 km from 2 previous oil wells, which were drilled along the southern boundary of the field. The well result had the potential to increase gross reserves by 40m barrels, or 20m barrels net to PetroNeft.

«We are very pleased with the results of the C-4 well so far as it has demonstrated the value of the Cheremshanskoye field within Licence 67,» chief executive Dennis Francis said. «The well demonstrates the importance of the 3D seismic in being able to confidently select a well location 5 km away from the discovery wells.»


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