Proactive Investors - Run By Investors For Investors

Max Petroleum: Drilling begins at the UTS-3 appraisal well at Block A, Kazakhstan

Max Petroleum: Drilling begins at the UTS-3 appraisal well at Block A, Kazakhstan

Drilling has begun at the UTS-3 appraisal well at the Max Petroleum's (LON:MXP) Uytas prospect in Block A in western Kazakhstan, the company said today.

The well will be drilled to a total depth of around 800 metres, said the oil and gas firm. It will target potential Cretaceous and Jurassic reservoirs.

The company bought the exploration and production rights to the Blocks A&E Licence area in the prolific pre-Caspian basin in 2005.

This area includes two blocks covering more than 12,455 square kilometres (km).

The acreage, located in the prolific Emba sub-basin, contains a good spread of shallow, intermediate and deep drilling supra-salt prospects on these two blocks.

Max Petroleum has interpreted around 5,000 sq km of exploratory 3D seismic data over blocks A&E and has a portfolio of post-salt and pre-salt leads and prospects.

Last week the company  said it had made a new oil discovery at the KZIE-1 exploration well in its East Kyzylzhar I prospect after the well reached a total depth of 1,620 metres.

Electric logs indicated 17 metres of net oil pay in two Jurassic sandstone reservoirs at depths ranging between 987 and 1,251 metres.

The firm added that reservoir quality appears to be “excellent”, with porosities ranging from 20 per cent to 30 per cent.

Max is now running production casing in the well, which is expected to be completed and placed on test production within 90 days.

Max had also revealed that its UTS-2 confirmation well in the Uytas field has now reach a total depth of 820 metres and that electric logs there indicate 12 metres of net oil pay in the Cretaceous section at depths ranging from 108 to 148 metres.

Again, the reservoirs here are described as being of “excellent quality”, with porosities ranging from 25 per cent to 34 per cent.

View full MXP profile View Profile

Max Petroleum Timeline

Related Articles

oil and gas operations
September 20 2018
Spirit Energy, majority-owned by British Gas parent Centrica, is to fund a programme of new wells and cover Hurricane's costs for initial field development work for the Greater Warwick Area
waste
October 18 2018
If contracts can be agreed, they might result in the installation of Powerhouse’s DMG technology at multiple locations
Offshore oil rig
November 01 2018
Calculated EMV10s for the contingent resources stood at US$118mln and US$82mln for the prospective resources

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use