The field operator anticipates the well will be turned to sales in a relatively short time frame, enabling the participants to take advantage of strong prevailing energy prices.
Existing facilities within Lake Long will enable early sales into the central production system with Columbia gas and Amoco being the likely ultimate product purchasers.
The well has tested at a final rate of 4.215 million cubic feet of gas per day and 336 barrels of 40 degree gravity oil per day on a 12/64 inch choke at a tubing pressure of 6,584 psi with no water.
“We are pleased with the test results which have displayed a high liquid ratio and we expect sales to commence in a very short time frame,” said FAR executive chairman, Michael Evans.
“We have continued our 100 percent success rate within the Lake Long field. Hopefully we can now build upon this success with our next well at Bay Courant, also located in this area, where a barge rig is scheduled on location in approximately three weeks.”
FAR holds a working interest of 4.09375 percent in the SL 328 #1 well. All working interests are subject to State and other minor royalties. Other participants are non-listed entities, Kriti Exploration Inc and Palace Exploration Company, both based in North America.
