Restart of Winchester Energy’s (ASX: WEL) field work at its East Permian Basin oil acreage in Texas has already generated encouraging results after a workover of Bast #1.
Winchester has completed a workover of its 92%-owned Bast #1 well which included a recompletion and fracture stimulation in the Upper Cisco Formation.
According to Winchester, the successful fracture stimulation was larger than those the company had undertaken previously in Nolan County.
A short swabbing program was completed, and the well was put on pump.
The well’s first full day of production was 24 April and exceeded the company’s pre-workover estimates.
It generated 35 barrels of oil, 143bbl of load water and minimal gas over 23 hours.
Winchester anticipates further improvements as pumping continues and more load water is drawn down.
Commenting on the well’s successful workover, Winchester chairman Laurence Roe said it was a validation of the company’s “attention to detail” approach to its asset development.
“We can balance low-risk operations such as workovers that add meaningful volumes of oil to our production with exciting high-impact wells such as our upcoming Base Deep well.”
“There is plenty more potential here,” Mr Roe added.
Advancing Texan oil field
With the success at Bast #1, Winchester has planned further workovers at its wells in the Lightning and Bast fields.
The company also plans to drill the Bast Deep prospect in June, which has a planned depth of 7,700 feet and will costa bout US$800,000 to complete.
This prospect has a best estimate gross prospective resource of 948,000bbl of oil equivalent.
At Bast Deep, the company is hoping for success at the Cambrian target. If drilling hits what Winchester hopes, it will prioritise drilling additional prospects with Cambrian potential including Meteor and El Dorado.
Combined, Meteor and El Dorado host a best estimate gross prospective resource of 3.2MMboe.
The current field program kicked-off earlier this month after an operational hiatus caused by COVID-19.