1. How satisfied are you with the developments at Helena Energy LLC in 2019?
Things are progressing in the right direction at Big Wells. We did some well work over the last year and proved there was even more oil in place. We developed plans for well work in 2020. We have secured a free source of produced water for out essential waterflood program to increase the reservoir pressure, and are negotiating a contract to take water from global player oil company.
2. What are the plans for the upcoming months?
We will be doing a workover in the coming weeks on the 3H pilot producer. We intend to moving the pump further down the horizontal section of the well bore to test the production rate at the far end of the well. We are researching a possible gas injection program on a vertical well to evaluate the oil mobility, this will give us an indication of the possible oil flow rate for the waterflood program once the reservoir pressure is increased. Right now it is a waiting process, the reservoir is approximately 3,000 acres and it will take a substantial amount of water to get the reservoir pressure back up where it needs to be. We started injecting water at a consistent rate in autumn 2019, we believe we have a couple more months before we start seeing a significant increase.
3. What are your main objectives for 2020?
Inject as much water as possible, consistently, to increase the reservoir pressure. Once we see a sustained increase in production, we plan to drill another horizontal oil producer well.