Regal Petroleum well tests indicate 1,187 boepd gas discovery

Regal Petroleum well tests indicate 1,187 boepd gas discovery



28 листопада 2012 года
Конкорд Капитал

Regal Petroleum (RPT)


Regal Petroleum (RPT LN) successfully completed drilling operations on its SV-53 well, the company reported Nov. 27 in an operations update. The initial SV-53 well tests indicate a hydrocarbon flow rate of 1,187 boepd. The well would be linked to a natural gas processing facility and start commercial production within two months. The company also reported its MEX-105 well has reached a depth of 4,650 metres, with a target depth of 5,250 metres. Regal is lacking progress in shutting off the water ingress at its MEX-3 well. The company's gas and condensate production 4Q12 to date stood at 1,438 boepd (vs.1,418 boepd in 3Q12).

Roman Dmytrenko: Regal’s 4Q12 to date output of 1,438 boepd confirms the company would underperform our 1,620 boepd 2012 production estimate by at least 8%. In addition, the water ingress problems at MEX-3 indicate it might be shortly abandoned. At the same time, the SV-53 well flow rate, if sustainable, would allow Regal to boost its current production by 82% to 2,500 boepd in early 2013, putting it on track to deliver 3,000 boepd in gas production by mid-2013. Our key concern now is how sustainable is the exceptionally good flow rate of SV-53.

Источник: Конкорд Капитал

Аналитик: Роман Дмитренко
Другие обзоры по компаниям и отраслям от Конкорд Капитал


Компании

все компании