Bass Oil (ASX:BAS) expects to resume drilling at the Bunian 6 development well in Indonesia this weekend after installing a replacement mud pump.
The well had reached a depth of 1,012m, with the replacement pump undergoing performance testing at 6am on 24 July.
Following testing, Bass says it plans to drill the intermediate hole section to approximately 1,440m before running and setting 9-5/8-inch intermediate casing. The well will then be drilled to an estimated total depth of approximately 1,820m.
Bass operates the Tangai-Sukananti KSO in South Sumatra with a 55% interest. Joint venture (JV) partner Mega Adhyaksa Pratama Sukananti holds the remaining 45%.
Bunian 6 primarily targets the TRM3 sandstone reservoir and will also intersect the secondary GRM and K reservoirs, which have produced or tested oil in other wells at the Bunian field.
The company forecasts initial production of 500 barrels of oil per day from the TRM3 reservoir. It expects Bunian 6 to increase gross field production from the current 250 barrels per day to 750 barrels per day.
Bass’ 55% share would rise from approximately 140 barrels per day to 410 barrels per day if the forecast is achieved.
The company expects the well to be logged, completed, and brought online in late August. It also says its drilling expenditure will be fully recoverable against existing production under the KSO terms.
Internal modelling estimates ultimate recovery of 151,000 barrels of oil on a P50 and 100% JV basis, with an estimated 80% probability of success.
Bass notes these estimates are based on internal modelling and the performance of nearby wells. Actual results remain subject to drilling and completion outcomes and reservoir performance.
Bunian 6 is located near the crest of the Bunian field structure, which is covered by 3D seismic data. An integrated field study incorporating reprocessed seismic data and attribute analysis was used to select the well location.
Write to France Pinzon at Mining.com.au
Images: Bass Oil
