Carnarvon Petroleum Ltd (ASX:CVN) advises that the Roc-2 well test successfully flowed gas and condensate to surface over the course of a sustained test program.
Carnarvon holds a 20% interest, with Quadrant, the operator, holding 80%.
Flow rates and reservoir pressure conditions exceeded Carnarvon’s expectations.
The test confirmed a quality conventional reservoir that flows strongly without intervention.
The gas and condensate ratios were at the higher end of the range of pre-drill estimates.
Flow test details
The well flow tested at rates up to 51.2 million scf per day of gas and 2,943 barrels of condensate per day, or circa 11,500 barrels of oil equivalent per day.
These rates were achieved with the well flowing at the maximum rate possible with the equipment being used.
Testing operations were undertaken at controlled flow rates to enable the monitoring of the field including reservoir pressures, gas and condensate ratios and the presence of other substances such as CO2, H2S, water and sand.
Encouragingly, there were insignificant levels of these other substances in the gas and condensate recorded during the flow test.
Adrian Cook, managing director, commented:
“Our drilling results to date in the Bedout Sub-basin have been extraordinary. Carnarvon and its partner and operator, Quadrant Energy have made substantial progress in this new oil and gas province since exploration began in earnest in 2014.
“The Roc-2 well has provided us with a significant amount of valuable new information, and the flow test result very clearly and unequivocally demonstrates the capability of these hydrocarbons to flow from quality reservoir within the basin.
“We are very happy with the Roc-2 well flow test results which are at rates that are significant in our industry.
“There is great potential within this basin for significant hydrocarbon volumes to exist as I have referred to on numerous occasions.
“These results provide Carnarvon and its partner with enormous blue sky potential and a platform within the Phoenix South and Roc area in which to test and develop this potential.”