Golden Gate Petroleum Limited (“GGP”) (ASX:GGP) is pleased to provide the market an update on the Permian Project in Texas, USA.
#5H Well Update
The 5H well continues to unload frac fluid. The hydraulic fracturing of the 5H used 66,000 barrels of frac fluid and put away 1.865 million pounds of sand across all stages. The first stage, a single cluster toe stage was the only stage where overall plan limits were not achieved. All other stages achieved very good results.
Given the high volume of frac fluid successfully injected into the A bench of the Wolfcamp, it is expected to take several weeks to pump off the fluid before hydrocarbon breakthrough. To date, the 5H well has flowed back over 5,000 barrels of frac fluid on its own without a pumping unit which is a good sign as far as formation energy is concerned. The formation’s energy level should benefit eventual production rates.
Overall, our expectations for the 5H remain high. Applying the latest Halliburton frac design technology which has achieved favorable results in other wells is expected to be a real plus for our anticipated outcomes.
#1 and #2 Well Update
The #1 Well has been put back on production and is pumping off the water used during the workover. Final installation of the capillary is waiting on new equipment to assist with the process. In the meantime, the workover rig has moved to the #2 well and is expected to start drilling out the plug separating the Cline interval in this well.
#6 Well
The next vertical well location has been staked and plated with the permitting process to start shortly. This well will drill down through the Wolfcamp interval. In addition, testing is being planned for the Clearfork interval which is above the Sprayberry interval. The objective is to examine and test a zone in the Clearfork which could be a candidate for horizontal drilling.
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