HRT concludes drillstem test in well 1-HRT-8-AM in the Solimões Basin

abarrelfullabarrelfull wrote on 19 Aug 2012 21:17
Tags: brazil hrt s-america upstream

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HRT Participações em Petróleo S.A. (the “Company” or “HRT”) (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces that its subsidiary HRT O&G Exploração e Produção de Petróleo Ltda. (“HRT O&G”) has concluded the drillstem test run in the well 1-HRT-8-AM, in the block SOL-T-169 in the Solimões Basin, which is jointly exploring with TNK-Brasil.

The test, performed in the Jurua formation sandstone reservoir from 3,122 to 3,128 meters, was successfully concluded on August 15 and showed good flow characteristics through a vertical well, reaching a production of 9.25 million cubic feet (262 thousand cubic meters) of natural gas per day with choke of 40/64”. The tested prospect is part of a northeast-southwest structure, around 40 km2 in area and can hold from 170 to 290 Bcf (4.9 to 8.2 billion cubic meters) of recoverable natural gas (mean value).

“This well confirms the gas trend to the east of the Juruá Field, in which previous gas discoveries were made in wells 1-HRT-5-AM and 1-HRT-2-AM. HRT believes that this structure has a potential flow rate up to 53 million cubic feet (1.5 million cubic meters) of natural gas per day when it reaches its development phase. This discovery is another important step in the assessment of the gas potential of the Tefe cluster in the Solimões Basin” mentioned Milton Franke, Chief Executive Officer of HRT O&G.

Jointly with previous discoveries made in this sub-region of the Basin, the well 1-HRT-8-AM will be part of an evaluation plan to be submitted to ANP. HRT is exploring the Solimões Basin in partnership with TNK-Brasil, a subsidiary of TNK-BP.

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