Pendleton Field, Sabine Parish, LA
Field Summary:
- Pendleton Field was discovered in 1960,and has produced > 40 MMBO from vertical wells, primarily in the mid 1960’s, early 1970’s . API gravity ranges from 40-55 degree
- Pendleton Field is not a continuous “single” reservoir. It is compartmentalized into separate accumulations providing opportunity for horizontal redevelopment
- Primary storage and deliverability is in fractures
- We have no evidence of significant matrix contribution
- Horizontal wells are more likely to encounter oil charged fractures missed by vertical drilling
- We expect to recoveries to average 250,000-300,000 BO per section with per well recoveries from 70–150 MBO
Technical focus:
- Identification of areas within the field with highest re development potential – develop core areas
- Reducing operating cost
- Identification of area in the field less likely to produce water
- Utilization of drilling and completion techniques that will optimize oil recovery, limit water production and minimize costs
Activity to Date:
- Roxanna has a 25% WI in this project
- Leased 24,126 acres
- Drilled 4 horizontal development wells
2018 – drilled initial well – confirmed concept viability
- Olympia Minerals #1
- Cumulative oil sales thru 3Q 2020 – 52987 barrels
2019 Drilled 3 wells – evaluated extent of re-development potential
- Olympia Minerals #2 – Extension of OM#1 trend
- Cumulative sales 3Q 2020 – 47169 barrels
- Currently ~ 80 bopd
- Olympia Minerals #3 – Extension to new fault block
- Converting to SWD
- Olympia Minerals #5 – Significant extension
- Tested 90 bopd on short test
- Shut in during price collapse
- Restart 1Q2021
2020 Drilled 1 well
- Vertical well P&A’d
- Primary term for all leases extended to September 2022
- Work program underway to significantly increase Field Level Operating Profit (FLOP)
2021 and beyond – focus on core development areas
OM#2 Flare While Drilling
Key Learning and Observations from Roxanna Activity:
- What we have learned over the last 2 years and continue to learn about this reservoir will allow us to make significant improvements to the overall profitability
- Oil remains to be recovered in Pendleton Field
- Horizontal wells can be effectively steered to stay high in the reservoir and avoid the Midway shale
- The southern fault trends of the field have significant reservoir energy and wells will flow initially
- Horizontal wells are effective in encountering multiple fracture zones, including productive intervals between historically productive trends
- Open hole completions may not provide efficient recovery of the oil: smarter completions are necessary – managing conformance and managing water
- Oil production favorably compares to wells drilled 30 years previously
- Water production is much higher than expected, more effective water control is critical to economic success
- Our focus is on reducing cost and optimizing oil production