Oryx Petroleum “Largely Unaffected” by Unrest

By John Lee.

Oryx Petroleum Corporation announced a production and drilling update on Monday for the Demir Dagh field in the Hawler license area in the Kurdistan Region of Iraq, including test results for the Demir Dagh-6 appraisal well (“DD-6”).

Oryx Petroleum is the operator and has a 65% participating and working interest in the Hawler license area.

Highlights:

  • Gross (100%) production at the Demir Dagh field is currently approximately 4,000 bbl/d
    • Liftings/sales and payments are proceeding in accordance with the agreement with a third party marketer
  • Two cased-hole drill stem tests (“DSTs”) were successfully conducted at DD-6 in the Cretaceous reservoirs
    • Maximum sustained natural flow rate of approximately 700 bbl/d of oil using a 16/64” choke
    • The well demonstrated high productivity but natural gas encountered at the top of the perforation constrained use of choke sizes and flow rates
    • Similar crude qualities were encountered as tested in the Cretaceous reservoirs at other Demir Dagh wells
  • 2014 Demir Dagh Appraisal and Development
    • Demir Dagh-7 well (“DD-7”) is to be spudded in the coming weeks and is expected to reach a total depth in Q3 2014
    • Three additional development wells are to be drilled in 2014 as deviated wells to Lower Cretaceous reservoirs
    • Preparation work for the acquisition of 440 square kilometres of 3D seismic data over the Demir Dagh, Banan and Zey Gawra discoveries commenced in June 2014
  • Operations remain largely unaffected by the security situation in northern Iraq (outside of the Kurdistan Region)
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