Join our daily newsletter At The Bell to receive exclusive market insights
- Norwest Energy (NWE) begins production testing operations at its Lockyer Deep 1 conventional gas discovery well in the Perth Basin
- An extended test program was conducted by Operator Energy Resources (ERL) to determine well deliverability, reservoir quality and gas composition
- The company says its results are one of the highest well-test rates in Australia
- The well is planned to be shut for six days to monitor pressure build up, after which downhole pressure gauges will be retrieved
- Shares are trading unchanged today at 3.7 cents
Norwest Energy (NWE) has begun production testing operations at its Lockyer Deep 1 conventional gas discovery well in the Perth Basin.
An extended test program was conducted by Operator Energy Resources (ERL), targeting a 25 metre interval of Kingia Sandstone. It sought to determine well deliverability, reservoir quality and gas composition.
The initial clean-up flow period ran for several hours, with increasing flow and choke settings.
A maximum sustained flow rate of 102 million standard cubic feet per day (mmscfd) was achieved while a maximum instantaneous gas flow rate of 117mmscfd was recorded. The company said these results are one of the highest well-test rates in Australia.
The well is planned to be shut for six days to monitor pressure build up, after which downhole pressure gauges will be retrieved.
Once these activities are completed, the well will be suspended for future completion as a production well.
In other news, the company will seek shareholder approval in order to grant Managing Director Iain Smith 30 million performance rights on the achievement of certain milestones.
Shares were trading flat at 3.7 cents at 10:55 am AEDT.
