Maha Energy AB (publ) ("Maha" or the "Company") is pleased to announce the spud of the Tie-5 Agua Grande (AG) horizontal well in Brazil. The Tie-5 well was spudded on time as per planned schedule at 0900 (GMT-3) on January 25th on the Tie field in Brazil. The well is designed as a horizontal well and will drain the northern part of the Tie field at the Agua Grande level.
As communicated earlier, the Tie-4 well was completed as a vertical producer and tested 4,695 BOEPD on an Electrical Submersible Pump (ESP). The Tie-4 well is now producing through the Tie Production Facility.
Jonas Lindvall, CEO of Maha Energy comments: "In light of the very positive well performance of Tie-4, we are very excited to start drilling the Tie-5 well. Our drilling team in Brazil have significantly improved on the Tie-4 well design and I am confident that we will be able to land the well horizontally in the AG."
Significant changes have been made to the Tie-5 well design to address the drilling issues encountered whilst trying to land the previous Tie-4 well. Changes include, deepening of the 9-5/8" casing shoe, and drilling the troublesome Lower Candeias in a shorter section with an inclination below 60 degrees. The Company has successfully drilled multiple wells through the Lower Candeias at angles below 60 degrees. A new geomechanical study was carried out with data acquired in Tie-4, and its findings and recommendations have been incorporated into the well program. Tie-5 will also be completed using an ESP.
1Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf: 1 bbl is used.
Miscellaneous
The information was submitted for publication, through the agency of the contact persons set out below, at 12:00 CET on 26 January 2022.
For more information, please contact:
Jonas Lindvall
Victoria Berg
About Maha
Maha Energy AB). The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Grayville, Illinois, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca
Attachment
- 20220126 Maha Energy Press Release Tie 5 ENG FINAL (https://ml-eu.globenewswire.com/Resource/Download/a832567f-a6e6-4d4c-b400-5bd51f90a9b4)
