Valued Partners,
On Monday, due to a continuing pattern of inclement weather, we were unable to recommence the swabbing procedure, but we still opened up the well and it kicked off flowing with over 450 psi. On Tuesday, our team reported a column of oil over 350 ft. before swabbing, and 650 pounds of pressure, with our swabbing samples showing a high degree of oil.
By the end of our fifth day of swabbing, we had recovered 443 barrels, and as of the 28th of May, we are filling up our second frac tank with a combination of load water and increasing amounts of oil. Over the past three days, our fluid levels have risen from 1,700 ft. to 1,600 ft. to 900 ft. from the surface, with the well gassing and flowing intermittently. The flowback results have far exceeded our expectations and all of these observations in combination with our data and test results conclude that the ASE 4 sand stimulation/frac has gone better than anticipated.
Based on advice from our petroleum engineers, we are in the process of ordering a PCP (progressing cavity pump), which based on the results of the ASE 4's flowback will increase efficiency and assist in optimizing production.
Typical PCP installation (for illustrative purposes)
Wayne Beninger (our Geologist & Engineer) recorded two videos this week reviewing both the Misener/Hunton and the Booch Sand formations:
https://youtu.be/9VJ8lyqu7ZI
https://youtu.be/Rq2wfQdpoVI
https://youtu.be/StIqGIl-H4s
