Nautical Petroleum Completes Test of its Well on Kraken

Nautical Petroleum says its latest well on the heavy-oil Kraken accumulation in the northern North Sea has been completed and tested.

The 9/02b-5Z well was drilled in UK block 9/2b. Its horizontal section was drilled from 5,257 ft (1,602 m) measured depth to a TD of 7,260 ft (2,213 m) MD, a horizontal displacement of 2,003 ft (610 m).

Early log evaluation suggests net oil pay of 1,598 ft (487 m), with average porosity of 38% and average oil saturation of 90%. The logs also indicate a continuous reservoir interval with maximum pay along the horizontal section of 120 ft (36.6 m) true vertical thickness.

The 5,257-6,724 ft (1,602- 2,049 m) interval MD was completed with sand screens and an open-hole gravel pack. The estimated completed net pay was then tested using an electric submersible pump.

Nautical adds that the well was put into production and cleaned-up at increasing flow rates for 23 hours in total. a multi-rate test then followed which yielded stable rates of 3,000 b/d of 15° API oil for 12 hours and 4,100 b/d for 11.5 hours. Maximum stabilized rate was 4,550 b/d.

A nautical point out that flow was constrained by the surface testing facilities. Total oil produced during the test was 6,000 bbl, with zero water cut at the end of the main flow period.

The well will be suspended for future use in the development of Kraken.

Steve Jenkins, Nautical’s CEO, said: “we are delighted to be able to prove a commercial flow rate on an asset containing best estimate contingent resources of 83 MMbbl net to Nautical.

“under normal production conditions this relatively short horizontal well is capable of producing 8000 bbl/d. these results augur very well for the longer horizontal sections we plan to drill in the development wells.

“The results of the 9/02b-5 and -5Z wells give us great confidence as we move towards concept selection, scheduled for 1Q 2012, and on to project sanction in 3Q 2012.”

[mappress]

Source: internettrends, October 11, 2011;