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 says workover finished on Well #1, off Texas coast
Investors took heart as international oil and gas exploration producer (ASX: EXR) Elixir Petroleum announced the successful completion of the workover of Well #1 at the Pompano Field and the recommencement of gas sales from the well.
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.
Since the last update, the B sand has been re-perforated and an electric log has shown a significant improvement in annular seal following the cement squeeze operations undertaken last week. Both strings have been unloaded using nitrogen to lift out completion fluids and the well clean-up continues to be monitored.
At the time of the operator’s report on Monday, 5 October 2009 (CST), Well #1 was flowing at an aggregate gas rate of approximately 3.3 million standard cubic feet per day with declining water production of approximately 325 barrels per day.
Water and any sand content of the production will continue to be closely monitored. The operator intends to limit the production rate from Well #1 whilst the well cleans-up. Once production rates have stabilised, the choke settings on the well may be adjusted to increase the gas production rate from Well #1.
The lift barge and support vessel have now been demobilised and equipment back loaded at the dockyard.
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.
