Pan Orient Energy has announced that the company will suspend the Jatayu-1 exploration well, which is situated onshore Indonesia. This well is cased down to 4.5 in. and has a measured depth of 6,640 ft.
After the casing of well is completed, the company will move the drilling rig to the Geulis-1 exploration site and is expecting to drill this well in about 3 to 4 weeks.
Pan Orient has planned to move a service drill rig to the Jatayu-1 site during this period, and will begin the program to drill about 1,300 ft at the Parigi limestone target with the help of a slim hole drill equipment. It appears that fluid losses for drilling can be potentially reduced by allowing lower mud weights and by placing the over pressured, unstable and gas charged open hole segment in Jatayu-1 well site behind 4.5" casing.
The company needs three weeks to move the slim hole drilling equipment towards the Jatayu-1 well location. The operation may possibly result in considerable cost savings and the present drill rig need not go on standby. Pan Orient intends to complete the Jatayu-1 exploration well to target depth for about $1.5 million USD. This can be potentially achieved without major drilling issues.
Pan Orient is an oil and gas mining and production firm located in Calgary, Alberta. At present, the company is operating in West Canada and onshore Thailand, Indonesia.
Source: http://www.panorient.ca/
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