www.elixirpetroleum.com
Elixir Petroleum is an international exploration and production company listed on the Australian Stock Exchange (ASX:EXR). Elixir holds interests in producing gas and condensate fields located in the Gulf of Mexico and has extensive interests in exploration and appraisal licences in the UK North Sea. Elixir has recently acquired interests in two producing fields in the Gulf of Mexico which provide the group with cashflow from sales of gas and condensate. The company is focused on increasing its presence on the shallow water shelf of the Gulf of Mexico and continues to examine new projects in which to participate. Such projects typically display discovered reserves, nearby infrastructure and short cycle times to first production and cashflow.
Elixir Petroleum reports workover on Pompano oil well #1, to commence in September
International oil and gas producer Elixir Petroleum (ASX: EXR) has been advised by operator AnaTexas Offshore Inc. that preparations are now advanced for the workover on Well #1 at the Pompano Field.
Elixir owns a 25% working interest in the Pompano gas field development and exploration project, located in Brazos Block 446-L SE/4, which is 7 miles offshore the Texas Gulf Coast.
The work will commence in mid September, depending on the availability of an appropriate work boat, and will take approximately 14 days to complete.
The well will then be opened to production gradually and may take some time to achieve full rates. The company said if successful, the workover should result in a significant increase in the gas production rate from the Pompano well.
Investors maybe aware the well has suffered production impairment from both the 6700 ft and B sand horizons as a result of water and associated sand production which has formed bridges within the completions.
Sand will be removed by coiled tubing, then attempt to isolate the water and sand production for the B sand followed by the injection of a stabilising treatment on the 6700 ft sand.
All of this work will take place through the existing completions and thereby minimise the time and cost of the operation.
The Pompano Project is located in 60 feet of water and has existing production infrastructure, including a platform and two satellite caissons tied back to the platform. The field has pipeline access to intrastate gas markets.
