Exploration/Development news briefs, May 19
Dynamic Oil & Gas resumes operations in Alberta; Union Pacific Resources Group doubles output from Guatemala horizontal well.
Dynamic Oil & Gas Inc.,Vancouver, BC, said the recent lifting of heavy equipment road bans will permit it to resume operations on its Peavey, Alta., properties. The bans were implemented during the annual spring breakup period. A rig is now being moved to the Peavey 12-11 location, a 3,800 ft exploratory well. More drilling is planned for the spring and summer months. Dynamic currently has two producing wells and four suspended wells in the area.
Union Pacific Resources Group Inc., Ft. Worth, Tex., said it more than doubled production from Xan-27 horizontal well in Xan field in Guatemala's North Pet�sub-basin. The well is now producing 2,900 b/d of oil, up from previous production of 1,300 b/d. The recently completed Xan 28 step-out well has extended the reservoir further to the east. Production from Xan field averaged 19,400 bo/d in the first quarter and is currently at 25,000 bo/d. UPR, which holds 100% of the field and operates it under a production-sharing contract with the government of Guatemala, anticipates a significant increase in average daily production from the field in the third and fourth quarters of the year.