Transglobe sees production increase in Egypt

transglobe 17Transglobe Energy Corporation has submitted the declaration of commercial oil well discovery for SGZ – 6X discovery, to begin development discussions with the Egyptian General Petroleum Company (EGPC), the company said in Q4 2018 update

Corporate production increased during the fourth quarter due to drilling and well optimisation results in Egypt which were partially offset by reduced production in Canada during November associated with unscheduled compression maintenance and curtailments due to low pricing.

Based on the previously announced well test results from SGZ-6X, Transglobe filed a declaration with EGPC of a Commercial Discovery to initiate early development discussions with EGPC which could result in initial production by mid-2019.

In South Alamein (SA), the company resubmitted a request for military access to drill the SA 24X Jurassic exploration prospect and entered into extension discussions with EGPC.

In West Bakr (WB), the two M field infill wells (M-North and M-South) continue to exceed internal pre-drill estimates producing at rates of approximately 800 bopd per well. During November 2018, the company received early approval to drill a replacement well for the M-10 well which was originally drilled in 2000.

The M-10 well was abandoned due to wellbore mechanical issues encountered during a water shut off the remedial program in September 2018. The replacement well (M-10 twin) is targeting the main M pool Asl A sand and was originally planned for 2019. It has subsequently advanced into the current drilling schedule and commenced drilling in early December. The M-10 twin is anticipated to produce oil although it is structurally lower in the pool.

In North West Gharib (NWG), the NWG 38A-7 was completed (unstimulated) in the main Red Bed formation and confirmed the presence of oil. NWG 38A-7 was placed on production in late November and is currently producing 360 Bopd. The NWG 38A-7 well has extended the known oil column height structurally down an additional 101 feet to a total of 445 feet for the NWG 38 pool, which should increase the reserves assigned to the NWG 38 pool in 2018.

Based on the results of NWG 38A-7, the company has commenced wellsite construction at NWG 38A-8, located approximately 0.4 km south of NWG 38A-7 which is targeting the Red Bed pool to potentially provide water injection/reservoir pressure support for the 38A pool. NWG 38A-8 is scheduled for drilling following the M-10 twin well.

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