Cadogan Petroleum PLC, London, has spudded the first of two wells in plans before yearend to satisfy commitments on Carpathian basin exploration licenses in western Ukraine.
Drilling is under way in the shallow Vovche-2 well on the Bitlyanska license, which the company describes as “high-risk high-reward.” Cadogan holds a 99.8% working interest in the 390-sq-km license.
On the 26-sq-km Monastyretska area to the north, it will use a heavier rig to drill the Blazh-10 well, targeting Paleocene Yamna sandstone at 3,500 m. It plans to spud the well in November.
Three old wells Cadogan rehabilitated on the Monastyretska license produce on pump at a combined rate of 212 b/d from the Yamna formation.
Cadogan has completed a reservoir study of the Monastyretska license indicating that infill drilling might add 2.3 million bbl to future production and that water injection might add a further 2.1 million bbl.
It estimates future cumulative production from the license under a do-nothing scenario at 1.2 million bbl.
The company holds a 99.2% working interest in the Monastyretska license.
It also holds interests in two Carpathian basin production licenses, one encompassing marginal Debeslavetska gas field and the other suspended Cheremkivsko-Strupkivska gas field.
