Experienced Perth Basin oil producer Triangle Energy (Global) Limited (Triangle/ the Company) (ASX: TEG) is pleased to advise the return of the CH-13 well to production at the Cliff Head Oil Field.

The CH-13 well was returned to production on the evening of 13 December 2019 following the installation of an electric submersible pump (ESP) replacement and has been tested over the weekend. The steady-state production rates for the field is currently 970bopd with the CH-13 well producing 150bopd.

The ESP is currently being brought up to full speed over the next two weeks and the field total production optimised over the coming month. Total field production is expected to exceed 1000bopd.

The Company has completed a program of works to review the methodology of ESP replacement. The successful resumption of production on the CH-13 well validates the Company’s decision to move to an alternative system for workover operations, ESP design and replacement.

The Company believes, this change in methodology will deliver:
• a safer and more reliable operation under a revised Safety Case;
• an increase in the well uptime that arises from being positioned to maintain inventory and reduce turn around time post an ESP failure; and
• a significant reduction in capital expenditure on future workovers of the Cliff Head wells.
The Company has optimised performance from the other four producing wells at Cliff Head and has averaged 779 bopd over the period CH13 has been offline, which is indicative of the excellent facility uptime that continues.
Further updates will be provided as the optimisation programme is completed.