MIOGYP DEVELOPMENT WELLS, DEEP TEST FOLLOW AT CHALKLEY

The Chalkley deep discovery well has been successfully offset with four development wells, each capable of producing at sustained rates of 40 MMcfd. In addition, a deeper Miogyp reservoir was opened by the Transco Exploration Co. 1 TXP well. Drilled on a farmout from Exxon Co., U.S.A. about 2,500 ft southeast of the discovery well, it was completed in August 1991. It flowed 14.5 MMcfd of gas and 659 b/d of 46 gravity condensate through a 17/64 in. choke with 8,325 psi flowing tubing pressure

Sept. 30, 1991

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The Chalkley deep discovery well has been successfully offset with four development wells, each capable of producing at sustained rates of 40 MMcfd.

In addition, a deeper Miogyp reservoir was opened by the Transco Exploration Co. 1 TXP well. Drilled on a farmout from Exxon Co., U.S.A. about 2,500 ft southeast of the discovery well, it was completed in August 1991.

It flowed 14.5 MMcfd of gas and 659 b/d of 46 gravity condensate through a 17/64 in. choke with 8,325 psi flowing tubing pressure from perforations at 15,288-452 ft.

This well is expected to be on production during fourth quarter 1991.

TXP estimated the Miogyp gross remaining recoverable reserves as of June 30, 1991, to be 635 bcf proved, 172 bcf probable, and 11 bcf possible of gas equivalent. That includes 9 million bbl of condensate based on a 6 to 1 ratio.

Independent engineers estimated gross remaining recoverable reserves as of the same date at 504 bcf proved, 95 bcf probable, and 31 bcf possible, including 7 million bbl of condensate.

Both revised estimates are based on results of Transco's 1 TXP deep test, data from other wells in the field, and cumulative production of 33 bcf of gas equivalent.

TXP offered to sell its interest in the property as part of its continued liquidation plan. The company and its financial advisor recently rejected bids as inadequate (OGJ, Sept. 23, p. 20).