Ivanhoe Finishes Drilling Exploration Well in Mongolia
David Dyck, President and Chief Operating Officer of Ivanhoe Energy and Gerald Moench, President of Ivanhoe's subsidiary Sunwing Energy, announced that Ivanhoe has finished drilling the company's second exploration well on the Nyalga block in east-central Mongolia and have prepared the well for completion and testing early next year.
According to a release, the well, N16-2E-B, was drilled on schedule and on budget, on an eight-square-kilometre structure approximately 12 kilometres from the first well drilled earlier this year. Like the first well, the second well has providel information that will be correlated with existing and future seismic data to help guide the ongoing drilling program. The drill rig will now return to China and appropriate equipment will be arranged to conduct the next phase of work. Ivanhoe Energy has invested US$11.7 million on all exploration activities to date on the block, fulfilling its obligations in the exploration phase of the Production-Sharing Contract.
"Drilling and open-hole logging operations on the second Nyalga well have been completed to a total depth of 2,300 metres and the well has been cased and secured," said Moench. "Oil staining, fluorescence and increases in background gas were observed in several sand sections, which are positive indicators of the presence of oil. The log results will be reviewed and analyzed to provide guidance on the best approach to completing the well once weather conditions permit, likely in the spring of 2012."
Ivanhoe Energy is an independent, international, heavy-oil development and production company focused on pursuing long-term growth in its reserves and production using technologies, including its proprietary heavy-oil upgrading process.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2011 Close-Up Media, Inc.All Rights Reserved
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According to a release, the well, N16-2E-B, was drilled on schedule and on budget, on an eight-square-kilometre structure approximately 12 kilometres from the first well drilled earlier this year. Like the first well, the second well has providel information that will be correlated with existing and future seismic data to help guide the ongoing drilling program. The drill rig will now return to China and appropriate equipment will be arranged to conduct the next phase of work. Ivanhoe Energy has invested US$11.7 million on all exploration activities to date on the block, fulfilling its obligations in the exploration phase of the Production-Sharing Contract.
"Drilling and open-hole logging operations on the second Nyalga well have been completed to a total depth of 2,300 metres and the well has been cased and secured," said Moench. "Oil staining, fluorescence and increases in background gas were observed in several sand sections, which are positive indicators of the presence of oil. The log results will be reviewed and analyzed to provide guidance on the best approach to completing the well once weather conditions permit, likely in the spring of 2012."
Ivanhoe Energy is an independent, international, heavy-oil development and production company focused on pursuing long-term growth in its reserves and production using technologies, including its proprietary heavy-oil upgrading process.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2011 Close-Up Media, Inc.All Rights Reserved
Professional Services Close-Up
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