A UK company will conduct hydraulic fracs on conventional and unconventional formations at a well in Poland’s Baltic basin under a farmout from San Leon Energy PLC, Dublin.
A binding letter of intent calls for execution of a comprehensive farmout under which Wisent Oil & Gas PLC will fully fund the cost of and carry out a three-stage vertical frac job at San Leon’s Rogity-1 well on the Braniewo S concession.
Wisent then has the option to fully fund, drill, and test a horizontal well to earn a 45% interest in Braniewo S, in which San Leon will remain operator with 100% interest during the farmout.
In the vertical well, Wisent will carry out one frac stage in the Cambrian Piasnica formation targeting conventional oil and two frac stages in the Lower Silurian section targeting shale oil. Operations will start July 31 assuming regulatory consent.
Following completion, Wisent will have the option to fully fund the drilling, completion, and testing of a multistage horizontal fractured well on the concession. That well will have a horizontal leg at least 800 m long with a minimum of six frac stages. Wisent’s decision whether to undertake the horizontal well is expected by Oct. 31 or later date if agreed, and it would spud by early February 2014.
Rogity-1 went to 2,788 m and encountered continuous gas shows with liquid hydrocarbons over more than 500 m of the Lower Silurian, Ordovician, and Middle Cambrian sections. The richness of the gas shows is consistent with a wet gas system, confirming San Leon’s regional model of the eastern side of the basin being in the oil window.
Wisent is focused on the Baltic basin’s shale oil potential and holds four exploratory licenses adjacent to Braniewo S on which it has drilled one vertical and one horizontal well. Wisent plans to carry out hydraulic fracturing operations on its own licenses in coming weeks before moving onto Braniewo S.