ANALYSIS of wireline logs at Utopia-6 confirms at least six metres of oil pay in the Murta reservoir and the well has been suspended pending completion as an oil producer, according to Bounty Oil & Gas. Utopia-6 should be brought onstream next month and is likely to produce about 50 barrels a day.
“This will more than double the total field production from around 35 barrels per day to 85 barrels and will have a strong and positive impact on the field’s cash flow,” Bounty said.
“No shows of hydrocarbons were noted in the deeper secondary targets.”
Partners in the Utopia Oil Field are: Oil Wells Inc of Kentucky 60% (operator) and Bounty Oil & Gas NL 40%.
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