Paradigm Oil and Gas has started mobilizing its production equipment to its Chelson Property in Texas, US. The company said that the renewed extraction of oil from the property's previously producing wells is planned to commence in the second quarter of this year.
According to the company, the Chelson property has potential proven reserves of 104,811 barrels of oil, and out of which 74,165 barrels of oil are yet to be calculated. Production from the existing wells during the work program after upgrades and rework is expected to total more than 900 barrels per month.
It is estimated that the property has the potential for 62 offset wells, with an estimated production potential of 1,741,763 barrels of oil, or over 52,000 barrels per month.
Brian Kennedy, chief financial officer of Paradigm, said: “Last week, we commenced well rework procedures which included swabbing and obtaining oil test samples. We also sent oil test samples to oil chem technologies, a global leader in surfactants and processes for chemical enhanced oil recovery, for them to formulate and ultimately supply us with high-quality surfactant formulations for use in the chemical portion of our recovery program.”
Joseph Fiore, chief operating officer of Paradigm, said: “We are currently readying the first well for a pre-surfactant production test, and should be able to report results within this quarter. Our plan is to use this test well to establish a baseline for production prior to application of the surfactant formulation.
“This will enable us to measure the benefit of the surfactant process before we apply it to the other wells in the property.”