Bass Oil (BAS) expects an upcoming workover program to triple oil production rates at its Worrier field in the Cooper Basin of South Australia
The company has planned a workover program at its Worrier 8 and Worrier 11 wells which, upon completion, is anticipated to take oil production to 300 barrels per day
A workover rig will begin at the Worrier 11 well to access undrained oil from the highest point in the field, which is expected to take five days to complete
Following this, the rig will move to Worrior 8 to investigate and repair a suspected tubing leak
BAS shares are up 6.06 per cent and trading at 17.5 cents at 12:32 pm AEDT
Bass Oil (BAS) is expecting a “material” increase in oil production from its Worrier oil field in the Cooper Basin of South Australia as it begins a two-well workover program.
A workover rig will begin at the Worrier 11 well to access undrained oil from the highest
point in the field, the attic.
Worrior 11 was the last well to be drilled in the Worrier oil field back in 2017. It was drilled directionally to access the highest point on the Worrior structure located underneath existing production facilities. It has only produced from the Birkhead and Hutton zones, but the McKinlay reservoir was never completed or produced in this well.
Bass hopes the workover program will see Worrior 11 come online at an initial rate of 200 barrels of oil per day and drain an additional 120,000 barrels of attic oil, as well as accelerate the production of the remaining reserves in the McKinlay reservoir.
Following this work, the rig will move to Worrior 8 to investigate and repair a suspected tubing leak.
BAS has assessed Worrior 8 to have a production capacity of between 20 and 40 barrels of oil per day once repaired and returned to production.
Upon completion of this two-well program, BAS expects oil production from its Cooper Basin oil field to increase to around 300 barrels of oil per day, up from the current rate of 95 barrels per day.
If successful, the company said production from the two wells would provide a “material boost” to its revenue and its ability to self-fund development activities thereafter.
The workover program is scheduled to begin on March 2 and is expected to take five days to complete.
BAS shares were up 6.06 per cent and trading at 17.5 cents at 12:32 pm AEDT.
