Block Energy spuds second well in western Georgia campaign

Block Energy PLC spudded JKT-01Z, the second well in Block's current two-well drilling program in Block XI^B, western Georgia, which the company acquired from Schlumberger Ltd. in November 2020.

JKT-01Z is a sidetrack from a vertical well originally drilled in 2011. It is targeting about 8 million bbl oil-in-place and is near vertical well KRT-39, which has produced about 450,000 bbl oil over the last 20 years.

JKT-01Z drilling has been optimized by recalibration of Block's 3D-seismic data with data gathered from recent wells, the use of horizontal drilling technology and geomechanics, and the ability to optimize the well trajectory in real time while drilling. The trajectory and horizontal well design will maximize the chance of intersecting fracture attributes identified in the same reservoir interval in KRT-39, the producing interval near the fractured volcanic tuff at the top of the Middle Eocene.

Block XI^B covers 615 sq km and is Georgia's most productive block, with over 180 million bbls of oil produced from the Middle Eocene, peaking in the mid-1980s at 67,000 b/d. About 600 bcf initial-gas-in-place exists in the Lower Eocene and Upper Cretaceous.