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Operations Update for Shoats Creek Field, Louisiana
North American Petroleum Plc, a company focussed on developing its interests in proven US onshore oil and gas formations, has provided an update on its 1,670 gross acre Shoats Creek Project, in Louisiana where NAP holds a 35%/26.25% working/net revenue interest alongside Northcote Energy (35% WI), and Springer Oil & Gas (30% WI).
Shoats Creek:
* 33% increase in gross production from the Lutcher Moore #9 well to 115
barrels of oil equivalent a day (30.2 BOE / d net) compared to the
previously announced test rate of 86.5 BOE / d (22.8 BOE / d net)
* Majority of production is oil – 73 barrels per day of oil and 255 thousand
cubic feet per day of natural gas and follows further low cost work
including additional perforations and a nitrogen flush with a coiled tubing
rig and nitrogen unit
* Following the successful workover of the Lutcher Moore #9 and #14 wells,
the partners in Shoats Creek have agreed to continue the capital programme
at Shoats:
*
+ Lutcher Moore #20 well, has been permitted as a twin to the Lutcher
Moore #16
+ Further ongoing work at Shoats to be announced in due course.
* The Lutcher Moore #12, a third well to undergo a low cost workover, has
been shut-in following the collapse of the casing in the well bore and will
not be added to production – the #12 had very good oil shows and is a
strong candidate for a twin well to be drilled on the same location similar
to the Lutcher Moore #16/20 wells
* Shoats Creek has historically produced primarily from the Cockfield
formation and has significant low cost development potential including:
*
+ Workovers and recompletions to both existing and new payzones in up to
22 existing well bores
+ Multiple new drill targets in a number of formations including the
Cockfield, the Frio and Wilcox identified using 3-D seismic data
NAP’s Managing Director Stefan Olivier said, “We are delighted with the increase in production at Shoats Creek. These figures further demonstrate the significant potential this project has to offer with impressive production rates delivered from the low-cost workover of existing wells, which is particularly appetising in the current markets. With a broadened work programme in the pipeline at Shoats Creek, including the 12 potential re-entry wells, we are excited by the upside the project has to offer. I look forward to providing further updates at this exciting time for the Company as we continue all efforts to rapidly grow NAP’s production and reserves.”
