Flow rates increase by 144 per cent at Italian well

flowRIGLESS testing has been successfully completed at Po Valley Energy’s Gradizza-1 gas discovery north of Bologna in Italy, which was first drilled in September.
The ASX-listed company, which completed testing across five days on different chokes, reported that flow rates stabilised at about 15,000 standard cubic metres per day with a 3/16 inch choke.
This was an increase of 114 per cent – about 8000scm per day – compared to the test carried out post completion.
“The improvement in tested flow rates reflects a continued clean up of the well and reduction through gas flow of the formation damage around the perforations and gravel pack,” Po Valley Energy said in a statement.
The structure, in the Ferrara province north of Bologna, had pre-drill prospective best estimate resources of 9 billion cubic feet of gas.
Latest results are expected to be analysed to evaluate the resources and commercial potential of the well.
“That Po Valley Energy has more than doubled gas production from a greenfields exploration well that was originally judged to have a 27 per cent chance of success is a validation of the company’s credentials as a targeted explorer,” Proactive Investors reported.
“Should the updated results prove commercial, the company should have little difficulty finding buyers for Gradizza gas, given that Italy imports 90 per cent of its gas.”
Po Valley Energy’s expanding portfolio of hydrocarbon assets in northern Italy includes 12 license areas encompassing 2000 square kilometres, in addition to two gas treatment plants.