i3 Energy PLC brings new gas well on stream at Noel

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i3 Energy PLC (LON:I3E)(TSE:ITE) has brought the A-52-G horizontal gas well located on the Noel acreage in Northeast British Columbia on-stream.

Following completion of construction and tie-in operations, the production from the well has averaged 650 barrels of oil equivalent per day since start-up on a quarter inch downhole choke, exceeding initial expectations by 30%.

Reserves additions associated with this location will be booked in i3’s 2021 year-end reserves update, and the company is currently evaluating potential offsetting development locations.

Meanwhile, the Marten Hills 01-12-075-26W4 well targeting the Clearwater play was spud on 15 June 2021.

As of 26 June, five of eight horizontal lateral sections, averaging 1,161 metres in length have been drilled in the Clearwater formation from this wellbore, and operations have progressed on time and on budget.

All laterals drilled have encountered clean upper shoreface sandstone ranging from 24% to 27% porosity and all have encountered oil as evidenced by oil shows on cuttings. The well is currently being drilled, and upon finishing the eighth lateral the rig will be demobilised and relocated to spud the second well. Production is expected to commence during July.

“We are very pleased with the initial production performance of the Noel well, which has exceeded expectations, will contribute to year-end reserves additions and has de-risked similar offsetting drilling locations,” said Majid Shafiq, chief executive of i3 Energy PLC.

“Operations in Marten Hills have proceeded exceptionally well and we look forward to bringing these wells onto production in late July.”

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