Dave / Remington Energy
REMINGTON ENERGY LTD. UPDATES - WEST STODDART PROJECT
CALGARY, January 15 /CNW/ - Remington announced today that its existing West Stoddart facility is now at full capacity, consisting of 2,700 bbls of oil and NGL's per day and 5 mmcf per day of natural gas.
Three horizontal wells and two vertical wells are tied into the facility, with one additional horizontal well awaiting tie-in. The horizontal wells are flowing to the facility at a surface tubing pressure in excess of 1,000 psi. There are currently two horizontal wells drilling at West Stoddart, the first of which has encountered a gross Doig interval of 40m. Operationally, the well is currently drilling the horizontal leg.
Production from the area is being limited by the facility capacity and as a result, Remington will expand the West Stoddart facility to 9,000 BOE's per day. The expansion is set to be fully operational by early May 1997.
Five horizontal locations have been identified and will be drilled through spring breakup, utilizing the two rigs that are currently operating for Remington in the area. In addition to the Doig horizontal locations, Remington will also be testing a number of up-hole gas zones that were identified as prospective in wells drilled to date.
Remington is preparing to shoot a 21 square mile 3-D program during the summer of 1997 to explore the north end of the West Stoddart block, which has not yet been drilled.
In total, Remington now has an interest in 69 sections along the Doig trend in northeast British Columbia. Along with the development drilling at West Stoddart, Remington has identified six exploratory wells to be drilled along the trend in 1997. The first exploratory well was drilled at Cache Creek, which has been cased as a Doig oil well and the service rig will be moving in to complete and production test the well in the next 48 hours. Along with the production test, Remington has applied to shoot a 3-D seismic program over the property in the spring of 1997. Development drilling on the property is scheduled to commence later in 1997, with production anticipated from Cache Creek during the Fourth Quarter of 1997.
Remington is in the process of completing its reserve report with its independent engineers, and will be providing this information along with financial information for 1996, in the near future. |
