By OGJ editors
HOUSTON, Feb. 10 -- Tri-Valley Corp. plans to fully develop its heavy-oil Claflin property in Edison oil field, near Bakersfield, Calif. Its current plan after acquiring 3D seismic is to drill 13 vertical and 9 horizontal wells to recover a net to Tri-Valley of 1.7 million bbl of oil over 15 years.
The company expects the wells to produce a similar 15 bo/d as vertical wells on adjacent leases that are on 2-acre spacing.
During 2010, the company reactivated on the Claflin property partially depleted oil wells previously drilled in the 1960s, and today has four reactivated wells producing with cyclic-steam injection about 30 b/d of 16° gravity oil.
The company plans to spend about $2 million in new capital costs that include upgrades to facilities and infrastructure and expects to complete five new vertical wells by June.
Tri-Valley has a 100% working interest in the 80-acre Claflin and the adjoining 80-acre Brea lease. Its revenue interest is 87.5% in Claflin and 83.33% in Brea.
The company said that upon completing Phase 1, it will start Phase 2 that will include drilling horizontal wells and additional vertical wells, and later, initial drilling on the Brea lease.