|
Ivanhoe Energy successfully produces oil from its second appraisal well in Ecuador Effectiveness of steam injection demonstrated for production of Pungarayacu heavy oil QUITO, Ecuador, Oct. 28 /PRNewswire/ - David Dyck, President and Chief Operating Officer of Ivanhoe Energy Inc. (TSX: IE, NASDAQ: IVAN), and David Martin, President and Chief Executive Officer of Ivanhoe Energy Latin America, announced today that the company has successfully produced oil at its second appraisal well in the Pungarayacu field on Block 20 in Ecuador, following steam injection operations. "This is an historic event," Mr. Martin said. "While the existence of the Pungarayacu oil field has been known for 30 years, these are the first barrels of oil ever to have been produced from the field. The Ecuadorian government has identified Block 20, including the Pungarayacu oil field, as a key, strategic project and we are pleased with the initial results of our appraisal work." The IP-5b well was successfully drilled, cored and logged to a total depth of 1,080 feet. The well then was perforated in the Hollin oil sands and steam was successfully injected into the reservoir. This was followed by the production of heated heavy oil back to the well bore and to surface. "In line with our expectations, the IP-5b well demonstrates that the Hollin formation in the Pungarayacu oil field contains oil and reservoir characteristics that allows for thermally-assisted production of heavy oil," Mr. Martin added. "We now will proceed with our evaluation process in order to design a development plan for this potentially large resource." The oil produced from the IP-5b well will be transported to Ivanhoe Energy's HTL Feedstock Test Facility at the Southwest Research Institute in San Antonio, Texas. The state-of-the-art testing facility is used to support detailed engineering and design of commercial-scale HTL plants and to test crude oil associated with potential HTL projects. |
|
| aus der Diskussion: | Ivanhoe Energy Corp. |
| Autor (Datum des Eintrages): | scherge007 (01.11.10 11:31:59) |
| Beitrag: | 5 von 13 (ID:40426909) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |