Acadian Energy New Albany Shale Greenfield Oil Simulation Completed - Positive Results Obtained
11 11월 2011 - 4:03AM
Marketwired
Acadian Energy (TSX VENTURE:ACX) announces results of an
engineering - geologic evaluation of the New Albany Shale within
the Illinois Basin of Illinois and Indiana. Fekete Associates Inc.
located in Calgary, Canada undertook this evaluation. The
established project objectives were as follows;
First, analyze gas production data from existing producing wells
to obtain a reservoir description and generate a type-well
production forecast.
Second, compare the type-well forecast against actual production
histories to ensure the relative consistency between the type-well
forecast and actual well performance.
Third, use the model to forecast oil and/or gas production and
estimate:
-Original-Oil-in-Place (OOIP)
-Original-Gas-in-Place (OGIP)
-Estimated Ultimate Recovery (EUR)
-1,000 Barrels (Mbbl)
Fourth, perform sensitivity analyses to illustrate the relative
importance of different well/reservoir/completion parameters on a
30-year cumulative oil production forecast.
Two well scenarios were modeled for a 160 acre drainage area
with an OOIP of 2,470 Mbbl; a vertical well and a horizontal well
with 5000 ft horizontal length. Sensitivity analyses were performed
on the following reservoir parameters to determine their impact on
the estimated ultimate oil recovery (EUR); porosity, water
saturation, vertical and horizontal permeability and reservoir
pressure.
Estimated oil recovery for vertical and horizontal wells in two
different permeability reservoirs are summarized below:
Low permeability scenario - (0.0026 horizontal permeability;
0.0015 vertical permeability)
-- Frac Stimulated Vertical Well 7 Mbbl
-- Horizontal Well - no stimulation 20 Mbbl
-- Frac Stimulated Horizontal Well 70 Mbbl
Higher permeability scenario - (0.034 horizontal permeability;
0.015 vertical permeability)
-- Frac Stimulated Vertical Well 35 Mbbl
-- Horizontal Well - no stimulation 125 Mbbl
-- Frac Stimulated Horizontal Well 200 Mbbl
Low permeability reservoirs, drilled vertically and
frac-stimulated calculated an EUR of 7 Mbbl. The low permeability
horizontal multi-frac stimulated well produced an EUR of 70
Mbbl.
In comparison, higher permeable shale reservoirs with a vertical
completion would produce an EUR of 35 Mbbl. A horizontal multi-frac
well's estimated EUR was 200 Mbbl.
Geochemical data suggests that in an area of 640 acres, an OOIP
of 9,880 Mbbl would be calculated. Thus 4 horizontal multi-frac
stimulated wells could recover 800 Mbbl and a minor amount of
natural gas. The results compare favorably with other North
American oil resource plays.
Acadian is currently in the process of interviewing
joint-venture partners and investors.
About Acadian:
Acadian is a junior exploration and production company which is
focused on the exploration and development of New Albany shale oil
and natural gas in the Illinois Basin. The Company continues
exploration development of the oil potential of the New Albany
Shale. Acadian trades on the TSX Venture Exchange under the symbol
ACX.
This communication to shareholders and the public contains
certain forward-looking statements. Actual results may differ
materially from those indicated by such statements. All statements,
other than statements of historical fact, included herein,
including, without limitations statements regarding future
production, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements.
The TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Acadian Energy Inc. John McDevitt Chairman and CEO
281-751-7720jmcdevitt@acadianenergy.comwww.acadianenergy.com
Acadian Energy (TSXV:ACX)
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