Petrotal brings third horizontal well in Bretana field online, defers projects

PetroTal Corp. will defer certain projects to preserve capital after recently bringing online its third horizontal well in Bretana oil field, Block 95, Peru.

BN 95-6H (6H) was brought online Apr. 10 and is currently producing about 5,750 b/d. Ten-day average production is about 4,500 b/d.

The well reached the target Vivian formation at a vertical depth of 2,698 m. With a 1,178 m horizontal section, 6H is the longest horizontal well drilled to date in Peru. Well completion utilizes additional AICD valves to maximize oil production based on success of these valves in the BN 95-4H (4H) and BN 95-5H (5H) wells.

6H was drilled west of 5H, slightly downdip of the crest of the structure, at a similar depth to 4H. Well cost was underbudget at $12.5 million.

Bretana oil field reached new record quarterly production of about 9,688 b/d and sales of 9,937 b/d during the year’s first quarter. The company has commissioned enhanced central production facilities (CPF-1), bringing overall oil production capacity to 16,000-18,000 b/d.

In January, the company reported plans to drill four new horizontal oil production wells and a second water disposal well on the Block based on horizontal wells following 2019’s 5H and 4H wells (OGJ Online, Jan. 22, 2020).

The company will postpone drilling BN 95-7H until at least July instead of the previously expected mid-May spud date. It also has postponed drilling the second water disposal well. The drilling rig is on standby at negotiated reduced rates. Completion of CPF-2 facilities will also be delayed.

PetroTal has 100% working interest in Block 95.