Bengal Energy has announced record production volumes of about 1,936 barrels of oil per day in July from 11 of 14 wells located in the Cuisinier area in the Cooper Basin, Australia.
Based on the company’s 25% working interest in Cuisinier, net production to Bengal would be 484 b/d, an increase of 55% over the oil volumes reported in the most recent quarter.
Canada-based Bengal’s average volumes from Cuisinier in July are about 587 b/d net, an increase of 68% over oil volumes reported in the last quarter.
The additional volumes are expected, as the remaining three wells will be brought on-stream by September.
The final well of six in the 2013 Cuisinier drilling campaign, Cuisinier 12, has encountered 3.8m of net oil pay in the Murta DC70 sands, and production from the well is expected in early September.
Bengal has signed an agreement with the Cooper Basin operator to drill two wells in the Tookoonooka permit, which is also known as ATP 732, as well as to acquire 300km² of 3D seismic that is worth about $11.5m.
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By GlobalDataThe company plans to complete the drilling of the first well and seismic activity on this 654,000 acre permit by the end of 2013.
Bengal Energy president and CEO Chayan Chakrabarty said the company has increased production and achieved progress in the Australian assets in terms of appraisal and development.
"With a growing production base that is light oil weighted, and which generates very strong operating netbacks, Bengal is well positioned to continue growing cash flow and reserves," Chakrabarty added.
Image: Bengal Energy produced about 1,936 barrels of oil per day from Cuisinier wells in July. Photo courtesy of ShavPS.
