Cabot Energy reports Canadian sidetrack well results

LONDON -- Cabot Energy, the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, provides the provisional results from the drilling and flow test of the 10-32 sidetrack well in the Rainbow area in Canada, which was drilled in December 2017.

Drilling

• The 10-32 sidetrack kicked off from the original well bore at a depth of 1,244 m and extended for an additional 988 m in length
  • the true vertical depth of the well is 1,541 m
• Approximately 400 m were drilled through the targeted reef with around 200 m of the wellbore encountering high porosity reservoir
• The well took longer to drill than planned to ensure the directional leg remained on the planned trajectory through the Muskeg overburden

Flow test

• The well was swab tested over a total period of 38 hr and cleaned up throughout the test
• During the final four hour flow period, the well was producing at an extrapolated daily rate of 408 bbl of fluid per day, of which 344 bbl was oil
• The well is expected to produce dry oil once all the completion fluid has been recovered

The 10-32 well is tied into the 13-36 facility and it is planned that it will be put on production with a pump later in January. The initial rate is expected to be approximately 200 bopd to manage the longer term production potential of the reservoir. The work on the 14-22 recompletion well will now be undertaken as part of the winter work program commencing in January. A full Company production and operational update, including 2018 guidance, will be provided later in January.