Exploration & Production | Operational Updates | Drilling / Well Results
Westbridge, Black Pearl Begin Completion of Wharton County Well
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Westbridge Energy Corporation and Black Pearl Holdings, LLC have announced the Wharton County #3 well in Wharton County, Texas, has been successfully drilled to total depth of 10,000 feet (3,048 meters) and encountered 47 feet (14.3 meters) of gross objective interval with 25 to 30 feet (7.6 to 9.1 meters) of net pay in the Lower Frio section of the field.
Results from the logging and coring have confirmed the presence of 36 to 40 degree gravity oil. Based on the positive results from the drilling of the WC#3 well, Westbridge and Black Pearl are proceeding with the completion of the well.
Reservoir Characteristics
Consistent with pre-drill expectations, the WC#3 well encountered the Lower Frio section stratigraphically trapped against the Boling Salt Dome and found light oil saturated reservoir sands. The characteristics of the reservoir show excellent properties with average porosity of 24% and average permeability of 300 millidarcies. The reservoir was encountered 49 feet (14.9 meters) structurally updip from the Wharton County #1 well.
Completion and Production
Westbridge and Black Pearl now move forward with completion of the WC#3 well. This will involve perforating 25 feet of interval followed by initial production and optimization to maintain an adequate reservoir pressure drawdown. Westbridge and Black Pearl will update the market with initial production rates in the near future. The Wharton Field has an additional 5 to 6 follow up drill locations.
Consistent with the drilling of the WC#3 well, the completion is being managed by Traton Engineering, a full-service engineering and consulting firm with expertise in all phases of oil and gas operations throughout the world.
Tosan Omatsola, President and CEO of Westbridge, comments: "We are very pleased with the results of the WC#3 well. This well has been drilled on budget, encountered excellent reservoir properties and intercepted an amount of pay consistent with our pre-drill expectations. This well also confirms the upside potential of the Wharton County Field and we anticipate it will warrant an upward revision of our reserves associated with the field."
Mike Looney, President and CEO of Black Pearl, comments: "The WC#3 well has involved the dedication of multiple parties and I would like to thank all parties of their support in generating this success. We now focus our efforts on the completion of our merger with Westbridge and moving forward with our remaining operational milestones for 2014."