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Icon Energy flows gas from Halifax-1, higher flows expected

Last updated: 01:10 14 Feb 2013 EST, First published: 00:10 14 Feb 2013 EST

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Icon Energy (ASX: ICN) and Beach Energy (ASX: BPT) have flowed gas at a constrained rate of 2.23 million cubic feet of gas per day from their Halifax-1 unconventional well in the Cooper Basin, Queensland.

Notably, the flow rate was constrained by the use of a very small choke size of 24/64 inches to reduce the rate of hot fluids so that the well head temperature does not exceed its maximum operating temperature of 120 degrees centigrade.

Flow rates are expected to increase further as more stimulation fluids are recovered and the choke is opened further.

Halifax-1 is still flowing back stimulation fluid at a reducing rate of 2,000 barrels per day.

The well was drilled to a total depth of 4,267 metres, after which a 14 stage fracture stimulation program was completed throughout the whole of the gas saturated Permian target zone.

Seven stages were completed in the deeper Patchawarra Formation, one in the Murteree Shale, two in the Epsilon Formation, two in the Roseneath Shale, one in the Daralingie Formation and one in the Toolachee Formation.

Icon already has funding in place to drill and stimulate a second well in the Cooper Basin, the timing of which will be decided by the joint venture.

Icon has a 40% interest in ATP 855P while Beach holds the remaining 60%.

 

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