InterOil plans to suspend Elk-2 well ops

INTEROIL Corp plans to suspend its Elk-2 well for possible re-entry at a later date and move the oil rig to Elk-4 that lies 1.6km south of the Elk-1 discovery well in preparation for drilling.
InterOil announced yesterday a conference call will be held today, to discuss the Elk-2 technical results, as well as the company’s forward exploration programme.
InterOil chief exective Phil Mulacek said: “The drilling and subsequent testing of the Elk-2 appraisal well had confirmed conductive fractures, porosity and deliverability and a larger rock volume and better than anticipated reservoir quality, which indicate increased potential gas resource in the Elk structure.”
However, the Elk-2 well might be suspended due to preparation for drilling at the Elk-4 location.
Mr Mulacek said the results from the Elk-2 well would support a significant hydrocarbon column and potential gas resource required to underpin a proposed LNG project in Papua New Guinea by InterOil’s joint-venture.
Results from drilling and subsequent logging, coring and testing of the Elk-2 assessment well indicated Puri limestone (thickness is 533m) and Mendi limestone (thickness of 292m) both thicker than pre-drill estimates.
Logged net reservoir was 202m thick with an average log porosity of 4.5%, Mendi limestone has an average porosity of 6.3%.
Most pre-drill expectations have been achieved and future drilling on the Elk structure will be undertaken to confirm oil and reserves.

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