After the completion of the two new wells, daily production from the Catahoula Lake project in LaSalle, Rapides and Grant Parishes, increases to about 152 barrels of oil per day (bopd).
The first SL 20884 # 1 has now been tied into the company’s jointly owned production facilities with daily flow at about 50bopd with associated water.
The SL 20846 # 1 well is making 100% gas at present which is being utilized to power the facilities, and will continue until the gas section of the well is depleted and the well begins to produce oil/condensate.
Otis said this provides cost savings from buying butane from other sources.
Further, installation of gas measurement gauges will be completed by the end of the current week and is expected to offer an understanding of daily gas volumes that are currently estimated at between 180-250 million cubic feet per day.
The Catahoula Lake project is targeting multiple stacked oil zones in the Middle-Wilcox formation at depths between 3,500 and 5,500ft.
Otis noted that wells drilled in the formation show long production lives with low decline rates after the initial flush oil discovery after which steady production is established.
Estimated ultimate oil recoveries will vary between 50,000 and 250,000 barrels for each successful well drilled.
