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Mart
Resources to Start Initial Production From Umu-1 Well
05-15-2008
Mart Resources, Inc. and its
partners Midwestern Oil and Gas Company PLC (Operator) and Suntrust Oil Company
Nigeria Limited announce the following update on production from the
Umusadege field, onshore Nigeria.
The initial two-week flow period from the XIIb zone in the Umu-1 well showed
strong reservoir performance. The choke size was progressively increased
throughout the flow period and a stabilized flow rate of 3,250 barrels of oil
per day was achieved on a 26/64 inch choke at a flowing well head pressure of
622 psi. The oil produced was 43 degrees API gravity with less than 0.25% water
content, no sand production and a low gas-oil ratio. The stable flowing wellhead
pressures seen, and initial analysis of the downhole pressure data, demonstrate
that high production rates were achieved with very low pressure drawdown,
indicating that the reservoir has excellent permeability and productivity. The
detailed production and downhole pressure data is currently being analyzed by
independent reservoir engineering consultants. Initial results from this
analysis suggest the XIIb reservoir zone has a productivity index (PI) of 150
barrels per day of production rate per 1 PSI of pressure drawdown.
Production from the XIIa zone in the Umu-1 well is now underway and the partners
plan to produce from this zone independently for up to two weeks following which
they anticipate commingling the XIIa and XIIb zones in order to increase the
production rate from the well.
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