The flow rates of the well are largely above the pre-drill estimate, which was expected to be 150 bopd. Total Singleton field production is now c. 750 bopd, or c. 950 boepd when the linked gas production is included. Providence Resources holds a 99.125% interest and operates the Singleton field, with Noble Energy, Inc holding the rest of 0.875%.
A review of the data supports the revised Singleton reservoir model which was used to find the SNX-10 well. This model has also disclosed a vital number of other projects that could additionally improve both the production rates and ultimate reserve potential of the Singleton field. Providence Resources has already high-graded a number of these projects with a view to potential implementation later in 2009. As well, drilling and completion technologies like geo-steering, bespoke concentric jet pump completion design and acid stimulation were instrumental in the SNX-10 success and will now become integral tools in the next steps in the re-development of the Singleton Field.
Tony O’Reilly, chief executive of Providence Resources, said The results have been exceptional, not only has there been a material increase in daily production rates at Singleton with the addition of this new well, but equally importantly, the results support our pre-drill reservoir modeling, which sends out a strong signal for further reserve and production additions through future drilling and well re-completion.
Despite having almost reached our 2010 Singleton production goal of 1,000 BOEPD, we are continuing to evaluate further potential projects for execution during 2009 which should continue to increase production rates and grow the reserve base.
