Tethys reports second successful gas well in Kazakhstan

Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian region of Kazakhstan, indicating that the AKK18 well is similar to the AKK15 well that tested gas at a stable rate of 7 MMcfd. AKK18 is anticipated to test at a comparable rate.

Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian region of Kazakhstan, indicating that the AKK18 well is similar to the AKK15 well that tested gas at a stable rate of 7 MMcfd. AKK18 is anticipated to test at a comparable rate.

The AKK18 well was drilled to a depth of 750 m, 6 km southwest of AKK15, and encountered a 3.6-m interval of gas-bearing Tasaran sand with an average porosity of 31% (OGJ Online, Oct. 18, 2013).

The AKK15 well encountered a 4-m gas-bearing interval of similar quality. It will be tied in as part of this year’s program. The AKK18 well will now be cased and prepared for production testing later in the year in conjunction with the AKK17 well in order to minimize costs, Tethys said.

The current shallow gas program includes the drilling of up to 10 exploration wells, based on the latest seismic data, as well as workovers and tie-ins, and is targeting a threefold increase in gas production by the beginning of 2015.

“The anticipated sale of gas into the Chinese market in 2015 at higher prices will bring a step change to the company, significantly increasing revenues through low cost, shallow wells in a development that has low operating costs and an efficient distribution system,” said David Robson, Tethys chairman and president.

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