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Northern Petroleum Plc is an oil and gas exploration, development and production company focused on the European Union and nearby areas. The Company is an operator of both onshore and offshore projects including a producing oilfield and boasts a management and technical team of the highest quality.
Northern Petroleum reports encouraging flow test from Grolloo gas field
Northern Petroleum PLC (AIM: NOP) reported what it called encouraging results from flow tests at its Grolloo gas field in the Netherlands.
Northern Petroleum Nederland BV measured a maximum gas flow rate of 16 million standard cubic feet per day (MMSCFD).
Managing director Derek Musgrove commented: “If we were to assume a flow rate of 10 MMSCFD that would, based on a forecast gas price of €0.20 per normal cubic metre, generate an annual revenue for Grolloo of approximately €8million net to Northern.”
This figure is based on NPN's 45 percent interest and a sustained gas production level supported by a 3,480 psi flowing pressure measurement.
Grolloo is one of the smaller of the six fields of approximately 93.2 million proven and probable barrels of oil equivalence being developed in the Netherlands by NPN. This is the fourth of a total of five wells to be hydraulically fractured in a very successful enhancement programme, in which results have considerably exceeded expectations, Musgrove said.
The bottom-hole recorders will be retrieved later this month enabling confirmation of the reservoir pressure and final determination of the gas production profile for sales. The field is scheduled to be put on-stream in the fourth quarter of this year.
Currently the well at the Geesbrug field is being prepared for hydraulic fracturing. At the Ottoland field, equipment and permissions are being procured to conduct a longer production flow test of both oil and gas.
