- Bengal Energy (BNG) has achieved positive initial results from its pilot waterflood activities in its joint-venture Cuisinier oil field in Queensland, Australia
- Based on the field operator Santos’s analysis of field performance since the waterflood pilot commenced, the company recommends to the operator that the waterflood program be extended to other wells in the Cuisinier field
- All the wells monitored experienced a gross cumulative oil rate rise in September 2022 of about 35 bopd in total, according to the operator
- Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia
- Bengal Energy Ltd. was down 12.50 per cent, trading at $0.07 at 12:15 PM ET
Bengal Energy (BNG) has achieved positive initial results from its pilot waterflood activities in its joint-venture Cuisinier oil field in Queensland, Australia.
Based on the field operator Santos’s analysis of field performance since the waterflood pilot commenced, the company will recommend to the operator that the waterflood program be extended to other wells in the Cuisinier field.
The operator began injecting water into the Cuisinier 24 well in December of 2021, which reversed the downward trend of production at certain other wells in the area.
The strongest performing wells, Cuisinier 15, 16, and 25, have all shown moderate increases in oil rate since the waterflood pilot came online.
Cuisinier 9, 20, and 28 have also shown improvement, although starting from a lower initial rate.
All the wells monitored experienced a gross cumulative oil rate rise in September 2022 of about 35 bopd in total, according to the operator.
Absent the impact of several wells that were shut in for various operational reasons, the joint venture has observed encouraging evidence to suggest that the overall field decline has been arrested with even a general upward trend in oil rate since December 2021.
“These positive results from the waterflood pilot have confirmed our long-held theory that there is more oil recoverable in the field, although, at this early stage, it is difficult to predict exactly how much,” stated Bengal Energy President and CEO Chayan Chakrabarty.
“Based on what we’ve seen and learned from this pilot, we will be recommending very strongly to the field operator that we sustain waterflood operations with minimal facility downtimes and expand them to include other wells in the Cuisinier field,” he added.
Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia.
Bengal Energy Ltd. was down 12.50 per cent, trading at $0.07 at 12:15 PM ET.
