Sound Energy reports strong pressure build-up at TE-7 test well
(ShareCast News) - Sound Energy, the African and European focused upstream gas company announced a strong reservoir pressure build-up at its TE-7 well and provided a fresh estimate for the resources in place.
The company found bottom hole pressure was at 393.8 bar, versus a final drawdown flowing pressure reading of 140 bar in January 2017 following its test and an initial level of 422.6 bar.
On 19 January, the company announced it had flowed at close to 1.0 Bcf over a period of 56 days during the draw down phase of its extended well test at TE-7, its second onshore well at Tendrara in Eastern Morocco.
The pressure build up, according to the group, was still ongoing with pressure stabilisation estimated to require a further six to eight months.
Nonetheless, reservoir simulations suggested that estimated connected gas volumes in place for production from TE-7 would be 40 Bscf gross unrisked, once the reservoir reached full pressure stabilisation.
That was was consistent with the preliminary volume estimates announced on 23 May.
Management also confirmed a field development concept with regular spacing of sub-horizontal stimulated wells, similar in design to TE-7.
As of 1440 BST shares in the explorer were 2.54% lower to 48.0p.