Canada's Valeura Energy Flows Gas from Turkish Well

Valeura Energy has announced gas flow from Gurgen-2 appraisal well in the Thrace Basin of Turkey.

The company on Tuesday said that the well has come on stream and producing at an average restricted rate of 3.0 million cubic feet per day (MMcf/d).

Canada based Valeura also plans a capital budget of up to $19 to 22 million (net) in Turkey in 2015 that is targeted to grow production volumes by 10 to 15 percent compared with 2014 and is expected to include the acquisition of approx. 140 sq kms of 3D seismic and drilling of up to three exploration wells on its 100% Banarli licence in the Thrace Basin. 

The company has made three conventional natural gas discoveries in the Osmanli area in the third quarter of 2014.

The Gurgen-1 discovery well was the most productive of the three discovery wells and has been on-stream for 62 days at an average restricted rate of 3.1 MMcf/d.

Gurgen-2, the first of two planned appraisal wells on the Gurgen discovery, was spudded on November 30 and was drilled in 14 days to a vertical depth of 2,000 metres into the Osmancik formation. The well is tied-in and has been on-stream for 13 days at an average restricted rate of 3.0 MMcf/d. 

The second appraisal well, Gurgen-3, was spudded on January 3, 2015. The well location is approximately 500 metres southeast of Gurgen-2.