Petrolympic has offered details on the 80-2V well that is situated at the Chittam Ranch property, Texas Maverick basin.
Recently, Big Shell Oil & Gas, which is the operator, stimulated a former low level reservoir zone that was not explored.
The company has successfully washed the well in order to regain all the stimulation fluids, following the stimulation process. In addition, the operator has recovered both oil and gas, together with the stimulation fluids recovery. The company has considered that the prospect demands additional long-term testing.
The CEO of the company has stated that additional testing is required for offering the information in order to assess the reservoir’s capacity of this field and the prospective for commercial production and expansion.
An assignment has been applied by Big Shell for the 320 A, which encloses the well bore from Shell Western E&P. the company will start the continuous testing after it obtains the acreage assignment.
Petrolympic penetrated seven horizons that contain oil and gas, during the well drilling. According to the earn-in contract with Shell Western E&P and Texas HBP, the company is drilling the Chittam Ranch well. Under this agreement, 50% of the working interest can be earned by the company on the Chittam Ranch property.
Source: http://www.petrolympic.com/