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Derek, Ivanhoe complete Phase 1 of LAK Ranch, Wyo., EOR project

By OGJ editors

HOUSTON, July 12 -- Ivanhoe Energy (USA) Inc. and Derek Oil & Gas Corp., both of Vancouver, BC, in late May completed Phase 1 of a steam injection test at LAK Ranch enhanced oil recovery project in Wyoming using the horizontal production well, Derek 1-P.

Oil cuts are improving as anticipated, reported operator Ivanhoe, with high quality 19° gravity oil containing high levels of naphtha. A second steam cycle is to begin in late July, using steam e from five vertical injection holes.

A 3D seismic survey is slated for the last quarter after which Ivanhoe will drill additional delineation wells.

The development program will include additional horizontal producing wells, new steam injection facilities, and the extension of surface facilities. Ivanhoe expects the initial development to grow to more than 20 producing wells and produce volumes exceeding 4,500 b/d.

Two independent engineering reports confirmed the potential for at least 100 million bbl of OOIP at LAK Ranch, Ivanhoe said.

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