Jubilant Energy completes spudding of well in Kharsang Field

Oil and gas exploration and production company Jubilant Energy has completed spudding the second well of its phase III extension development drilling campaign in the oil producing Kharsang Field.

Oil and gas exploration and production company Jubilant Energy has completed spudding the second well of its phase III extension development drilling campaign in the oil producing Kharsang Field.

The company reported that the KPL-3E-4 well, as the second well is known, was drilled on March 23rd 2013.

KPL-3E-4, located in the north-western area of the field, is being drilled as an infill development well with the H-00 reservoir as the primary objective and G-00 reservoir as the secondary objective.

The company said that the well would be deviated by approximately 357m towards south-east from the existing plinth of well KSG#27 and would be drilled to a target depth of approximately 1082m measured depth (MD) and 1,000m true vertical depth (TVD).

The well is expected to take up to three weeks to drill.

The first development well of the current campaign, KSG#65 - previously referred to as KPL-3E-7 - which was drilled on February 18th 2013, was successfully drilled to a revised target depth of 1,145m MD and 1,111m TVD on March 10th 2013.

Based on the results of wire-line log interpretation, drill cuttings, side-wall cores and formation pressure data from the reservoir dynamic tester, the company said that nine potentially hydrocarbon bearing sands were encountered in the well, a total net pay of 44 metres, out of which it said that eight appear to be oil bearing.

GeoEnpro Petroleum, a joint venture between GeoPetrol and Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is the operator of the Kharsang Field.

Jubilant holds a 25% interest in the block through its subsidiary, Jubilant Energy (Kharsang) Pvt.. The other members of the consortium are Oil India Ltd and GeoPetrol.

Jubilant Energy's share price was up 4.29% to 18.25p by 14:00 on Monday.

MF

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