CAMBAY-77H – Interim Flow-back Update
Oilex Ltd (ASX: OEX, AIM: OEX) is pleased to announce that Cambay-77H continues to produce light crude oil and gas as the well recovers frac water during clean-up.
Cambay-77H crude oil recovered from flow-back operations is currently being transported to a nearby refinery for sale, where it attracts a price similar to Bonny Light Crude. Gas produced concurrently with crude oil during flow-back continues to be flared to ensure safety of all well-site personnel.
Samples of the oil, gas and water have been shipped to facilities for analysis. Preliminary analyses of the recovered water have been received and confirm that the water is consistent with frac water and not formation water. Oilex is currently awaiting analysis results for the oil and gas samples.
Managing Director of Oilex, Ron Miller, said;
“It is a nice sweetener to continue production of crude oil which sells for an attractive price during flow-back and clean-up as some North American wells only flow water during early clean-up. To date, the data collected continues to support Cambay-77H as capable of being a high performance well compared to previous well designs consisting of vertical or deviated wells with single fracs in the Cambay Basin. As the first well of this type in the Cambay Basin to “flow-back and clean-up”, it is not unexpected for some remedial work as part of those operations.”
Source: Oilex Ltd