The company anticipates that with the receipt of a crown surface lease and approval of its well license for a new vertical well at 12-33-65-22W5M, drilling operations will begin within the next week once the surface lease construction activities have been completed.
The well would take approximately seven days to drill and the company would have initial testing results by early March 2010.
Morumbi said that, given a strong performance of offset oil wells in the McKinley Cadotte Pool, it is anticipating that the new well would make a strong contribution to future production. Offsetting wells in the Cadotte pool have produced over 1.5 billion barrels of 37 degree API oil, averaging 300,000 barrels per well.
Morumbi has also concluded the re-completion of the original 12-33 horizontal well. The operation involved abandoning the horizontal portion of the well bore that was believed to have collapsed.
This operation was necessary in order to enable Morumbi to apply to drill a new vertical well at 12-33, which the company anticipates will be optimally placed to capture the remaining reserves in the McKinley light oil pool. This view is supported by horizontal logs that penetrated the Cadotte Reservoir at the proposed new 12-33 vertical location, the company said.
The re-completion will also enable Morumbi to use the vertical portion of the original 12-33 well, which has a surface location at 4-33, as a potential water disposal well and for pressure maintenance purposes in order to receive GPP on the new 12-33 well if successful.
