The Rabalais 35 No.1 well in the Turner Bayou Chalk project has been drilled to a measured depth of 20,370 feet (6,208 metres) including a lateral of approximately 6,183 feet (1,884 metres).
Drilling was terminated short of the targeted 7,000 foot (2,130 metres) lateral length due to hole conditions leading to increased torque on the drill string. Conditioning of the well bore and completion of the well are underway.
Installation of a slotted production liner is expected to begin next week. Following this the drill rig will be demobilised and flow testing will commence. It is expected that the flow test will be completed by the end of January.
Justin Pettett, Pryme’s Managing Director, said “the Rabalais 35-1 well will provide an additional data point for establishing the oil and gas prospectivity in the northern portion of Pryme’s acreage within the Turner Bayou 3D seismic survey area.”
About Turner Bayou
Pryme has a 40% working interest in 24,000 acres (9,600 net acres) in the Turner Bayou Project and is initially targeting development of the Austin Chalk horizon. A total of 30 Austin Chalk well locations are possible within the project area based on a 640 acre well spacing.
The Rabalais 35 No.1, which is being drilled by Anadarko Petroleum, is the third well in which Pryme has participated in the Turner Bayou project. The recently completed Deshotels 13H well (Pryme 40% WI), which is 4 miles south of the Rabalais 35 No.1, returned an initial test rate of 1,167bpd of oil and 600mcf/d of natural gas despite a sub optimal completion method and is now shut in pending the installation of a downhole pump prior to the commencement of commercial production.
The Rabalais 35 No.1 will be completed using a technique which has been successfully demonstrated in a number of recently drilled wells in the Austin Chalk. It is targeting the same Austin Chalk objective as the Deshotels 13H and, if successful, will provide further evidence of the commerciality of the Austin Chalk formation in this region. Recently successful wells in and around Turner Bayou are detailed in Table 1 and Figure 1 below. Pryme plans to spud its fourth well in the Austin Chalk prior to April 30, 2012.
In addition to the Austin Chalk potential of the Turner Bayou project area, Pryme is aware that several companies have achieved encouraging results from tests of the Eagle Ford and Tuscaloosa Marine Shales in proximity to Turner Bayou. The Company will continue to monitor this activity and update the market as appropriate.
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