IN THE NEWS / Harken Energy <HEC.A> Needs To Go Deeper Than Expected
10/30 17:44
DALLAS, Oct 30 - Harken Energy Corp said Friday the Islero 1 well, on the company's 300,000 acre Cambulos Association Contract block in the Middle Magdalena Valley of Colombia, is encountering the expected subsurface geology at deeper depths than originally estimated.
Seismic data collected during the drilling of this well has resulted in a reinterpretation of the original seismic model, the company said. The data indicate the target Cimarrona formation may be up to 1,500 feet deeper and that the bed dip (incline) is much higher than originally expected. Based on current estimates, the well could have a total depth of 9,600 feet in order to test the Cimarrona formation if the current drilling direction is continued. Instead, Harken said, it plans to reduce the potential distance to the target Cimarrona to about 7,500 feet by sidetracking from the wellbore. The sidetracking will begin at about 4,900 feet with directional drilling to the east into the expected location of the Cimarrona at an updip, or shallower, level.
During the drilling of the Islero 1, the company said, it encountered multiple highly fractured and faulted zones and has had to set two additional casing strings to solve various mechanical problems with these formations. These formation problems have at times caused temporary sticking of the drill string and other mechanical problems.
The sidetracking, changed drilling program and added casing strings have caused Harken to add 30 to 45 days of rig time to its estimated drilling schedule and have increased expected well costs by an undisclosed amount, Harken said.
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