Chad Is Better than thought, imo. See This:
Caracal Sees Q3 Milestone in Chad
Monday, November 11, 2013
Q3 was a milestone period for Caracal Energy Inc in Chad, marking its development into a cash flow generating entity. The company commenced first production from the Badila Field on September 30 and as of November 6 Caracal was flowing oil from the Badila Field into the Export Pipeline at a rate of approximately 5,100 bpd (gross). As of the same date approximately 45,900 barrels had flowed into the export pipeline.
Between October 11–24 Caracal’s production was stopped to make modifications to computer software necessary for the precise measurement of the crude oil flowed into the pipeline. The redesigned software is now operating as required. In addition, each of the three pumps designed to ship Caracal’s crude oil through to the pipeline have been affected by mechanical malfunction, with the consequence that they are not currently operating at full capacity. The company expects to undertake the repairs necessary to restore these pumps to full working order during November. Caracal has also arranged delivery of three additional pumps to provide spare flow capacity, which it also expects to commission in November.
On the drilling end at the Badila and the Mangara fields the company drilled the Badila-4 well during Q3 and spud the Badila-5 well on October 12. The Mangara Field saw the Mangara-5 well drilled to a depth of 3,339 meters and completed as a lower Cretaceous C and D sands production well. The initial flow test on the E sands achieved a maximum natural flow rate of 1,917 bpd at a flowing wellhead pressure of 160 psi. The initial flow test, conducted over a 53-hour period, yielded a total oil volume greater than 1,450 barrels at varying rates.
Caracal intends to spud the Mangara-6 well during November. The Mangara-6 well will test the aerial extent of the E sands on the western side of the Mangara field.
Construction continued on the central processing facilities, southern processing terminal, blending facilities and Mangara sales pipeline. All of these facilities, except for the southern processing terminal, are expected to be mechanically complete and operational in the second quarter of 2014. The southern processing terminal is expected to be commissioned in the fourth quarter of 2013.
On its DOB/DOI PSC the group’s first exploration well, the Krim-1 well, was spud in August and drilled to a depth of 3,332 meters. Initial testing of the E sands has achieved a maximum natural flow rate of 2,580 bpd. Field sampling suggests oil gravity of 34°-37° API and a producing gas-oil ratio of approximately 100 scf/stb. The group estimates that, using an ESP for artificial lift, a stable production rate of 3,000 to 4,500 bpd is achievable.
During Q3 the lease construction for the Bitanda prospect spud was completed. The Bitanda prospect is scheduled to spud in Q4 2013 targeting unrisked mean prospective resources of 277 million barrels. As part of the planned 2D seismic shoot there will be 250 lineal km of seismic acquired to mature leads and prospects on the DOB /DOI blocks.
On the Doseo/Borogop PSC, Caracal has scheduled one appraisal well and seven exploration wells, as well as shoot 455 sq km of 3D seismic covering the Kibea Field and adjacent exploration targets. There will also be a 253-sq km 3D program over the Maku Field and 1,250 lineal km of 2D seismic be acquired impacting maturation of leads and drill ready prospects. These activities are expected to take place in over Q4 2013 and 2014.
The company also continued to reprocess existing 2D seismic with the intent of drilling two exploration wells in 2014 on the DOH PSC.
