Liberty Energy has provided an operational update on its interest in the Deventci-R1 discovery well situated on the A-Lovech exploration block, which covers 1,830sq miles in Bulgaria.
In April 2010, the company said it had completed the assignment of overriding royalty rights (ORRI) to a proven multi billion cubic feet of natural gas property in North-West Bulgaria, 130km from the capital city Sofia.
The total depth of the Deventci-R1 discovery well is 5,888m (19,313 ft) in the Lower Triassic Alexandrovo formation and the well is on a geological feature known as the West Koynare structure, which covers around 15-20sq km.
The project is operated by Direct Petroleum Exploration (DPE), which means the company is currently not involved in any ongoing development operations or exploration of the block.
It is anticipated that the Deventci development will be tied into the Aglen field, 21km away.
During a 12-hour shut-in period of initial testing, the indicated bottom hole pressure was about
11,500psi.
The well encountered gas saturated reservoirs in the Dolni Dabnik member of the Middle Triassic Doirentsi formation.
The other potential reservoirs are in the Upper Triassic Rusinovdel and the Lower Jurassic Ozirovo formations while the casing was run to 5,876m (19,280 ft).
The initial results of the testing show that gas and natural gas condensate are of a high quality with low sulphur content.
The company can confirm that there has been continuous testing on the Deventci R1 discovery well and DPE are planning to file for a production license by the end of 2010.