PROJECTS: RIVERBEND PROJECT, TEXAS USA(EME Working Interest 10%)
Empyrean Energy announced on the 1 June 2009 that it had entered into a Participating Agreement with Krescent Energy Partners II, LP of Houston, Texas ("Krescent") to acquire a 10% working interest in Krescent's Riverbend Project.
The Project Area is located in the Tyler and Jasper Counties. The Area is also ideally located south of the prolific Brookeland Field (Austin Chalk).The project targets primarily the Austin Chalk and Saratoga Formation.
An unsuccessful attempt in 2010 to re-enter the highly-pressured Austin Chalk reservoir of Quinn 3-H was followed by the successful drilling of the Cartwight No1 well in the same year.
Unfortunately production of gas and condensate was permanently impeded by a downhole obstruction in the producing zone.
The Austin Chalk interval was consequently plugged to enable perforation and eventual production from a secondary target zone, the Wilcox Formation, located at a shallower depth in the well.
Gas and condensate production to sales recommenced on the 11 May 2013. Early production of 40 barrels of condensate per day was in line with expectations , although the gas production of 745,000 cubic feet of gas per day exceeded expectations.
During the 8 months of production in 2013 the well produced 4,158 barrels of condensate and 121,156 thousand cubic feet of gas.
Since then, the production profile has been substantially reduced for both technical and economic reasons.
In 2014 a reduced quantity of 371 barrels of condensate and 18,417 thousand cubic feet of gas were produced and in 2015 a similar amount of 415 barrels of condensate and 18,356 thousand cubic feet of gas was measured at the wellhead.
At times the Cartwright No1 well has been virtually suspended and full production will only be resumed once the economic environment has improved.
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