88 Energy locks onto oil pay zones at its Alaskan well

88 Energy will proceed to flow testing after confirming multiple hydrocarbon bearing pay zones at its Alaskan Hickory-1 oil well.

The company’s wireline program confirmed the discovery of a new upper reservoir zone hydrocarbon bearing pay zones across all pre-drill targets. Estimated net pay was calculated from wireline data and totalled 137.1m, gross pay was estimated to be over 610m. Pre-drill expectations were all met or exceeded on reservoir quality, thickness, size and total net pay.

Net pay is the net productive thickness of those reservoir intervals in which porosity and permeability are high enough for the interval to produce oil or gas. Net pay is calculated from the downhole wireline data and is used to calculate volumetric estimates of ultimate recovery and hydrocarbon resources.

88 Energy says the average total porosity across all zones was 9-12 per cent, key zones identified for potential testing in the new upper and lower zones had between 11-16 per cent total porosity.

The company said post-well analysis of cores and wireline data will now commence, including assessment and classification of resources across all reservoirs including maiden resource estimates for the new reservoir.

Management now plans on flow testing multiple zones in the Hickory-1 well, saying they all possess similar reservoir characteristics to wells that have flowed on adjacent acreage.

The Hickory-1 well is currently being cased and will be suspended until the flow test program in the 2023-24 Alaskan winter operational season. Planning for the flow testing is underway including identification of suitable rigs to undertake the work.

88 Energy says the Hickory-1 wireline logging and sidewall coring program has confirmed the presence of multiple hydrocarbon bearing zones across all pre-drill targets in addition to the newly identified reservoir.

The company has performed side wall coring over all reservoir intervals with samples recovered to surface. The cores fluoresced under ultraviolet light in numerous samples over the various reservoirs and visible porosity was confirmed. Core samples will be subjected to more detailed laboratory analysis.

88 Energy managing director Ashley Gilbert said: “We are excited about the results to date from the Hickory-1 well, and particularly encouraged by the identification of multiple pay zones across the primary and secondary targets.”

Management says preliminary comparison of Hickory-1’s prospective zones against the interval that flowed oil in Pantheon’s Alkaid-1 indicated favourable potential for successful flow tests from multiple zones in the Hickory-1 well. Pantheon’s wells are on the adjacent northern tenements and four wells have all flowed 35 to 40 degree American Petroleum Institute oil from similar sandstones with testing confirming the reservoirs deliver light, sweet oil.

88 Energy is the operator and owns 75 per cent of the project which is located adjacent to the Dalton Highway and Trans Alaska Pipeline on the north slope of Alaska. The company plans on releasing further analysis on an ongoing basis including the results of the flow testing to be undertaken in the Alaskan 2023-24 winter season. Hickory-1 reached a total depth of 3.246km with multiple prospective oil pay zones being located in sandstone reservoirs between 2.35km and 3.2km.

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