The Alwan West prospect, which will be the largest natural gas well drilled by Victory Energy to date, has a reserve potential of 8.75 billion cubic feet (bcf) of natural gas and 43.75 thousand barrels of gas condensate.
Victory Energy acquired the prospect, which includes a 5% working interest (WI) and a 3.8% net revenue interest (NRI), from Miramar Petroleum of Corpus Christi, Texas, who will be the operator and who also owns a significant working interest in the well.
According to the company, the reserve potential is based on 50ft of reservoir sand, one million cubic feet per acre-foot of natural gas and five barrels per million cubic feet of gas condensate.
These reserve estimates are for the first Yegua sand only, which is the primary objective, and do not include potential in the secondary objectives.
There are two natural gas lines that cross the lease within 1,000ft of the proposed location.
