Pennpetro Energy PLC on Friday said that the drill rig has now set the packer in the 7-inch casing at the Whistling Straits 5H well in the Peach Creek oil field in the US state of Texas.
Pennetro Energy is an oil and gas company focusing on production and development in Gonzales County, Texas.
The packer has been successfully pressure tested to 1,000 pounds per square inch, whilst the Wisco Moran Rig 16 has now been released, and the rig is currently being removed from the wellhead.
On removal of the rig, and its associated infrastructure, the production storage tanks will then be installed on site. Removal is anticipated in the coming days. The workover rig is scheduled to mobilise to site early next week to put the well onto pump to initiate testing.
The well has been drilled to 10,195 feet measured depth with a 7,632.22 feet true vertical depth, having reached target and penetrated the crestal portion of the microfracture swarm.
Following the installation of the onsite production infrastructure and down hole pumps, the well will be produced over an interval of 2,500 feet of open hole within the Austin Chalk.
The Whistling Straits 5H well is the first well to be drilled under its recently signed participation, development and option agreement between Pennpetro’s 100% owned subsidiary, Nobel Petroleum USA Inc, and Millennium PetroCapital Corp.
Nobel is paying a third of the cost to drill and complete this joint development well for a net 25% working interest, as well as a prospect fee which covers sunk costs relating to leasing, land, legal, 3D seismic licensing, geological and geophysical analysis.
Shares in Pennpetro Energy were up 2.5% at 3.08 pence on Friday morning in London.
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