88 Energy makes good progress at Winx-1
88 Energy updated the market on its oil and gas operations on the North Slope of Alaska on Friday, reporting that surface casing has been run to around 2,500 feet, as planned.
The AIM-traded firm also said drilling of the intermediate section was scheduled to start in the week beginning 25 February.
It said the Winx-1 exploration well was drilled to around 2,500 feet on 20 February local time, as scheduled, with casing run successfully.
The forward plan included the cementing of casing in place, a mandatory test of the blowout preventer system, drilling out cement into the 8.5 inch hole, and performing a formation integrity test.
After those activities, drilling would commence in the intermediate section of the well, where the primary Nanushuk target formation would be intersected.
“Winx-1 is located four miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk topset play fairway to the south,” the 88 Energy board explained in its statement.
“Winx-1 will target gross best estimate prospective oil resource of 400 million barrels of oil - 144 million barrels net to 88 Energy - across multiple stacked objectives, including the Nanushuk Formation, which is the primary target of the well.”