Prospex Energy’s Viura-1B development well, which is being drilled by HEYCO Energy Iberia, has successfully reached its revised targeted total depth of 4,500 m on 21 October 2024 in the 6-inch hole section of the bottom 450 m of the well.
The Viura gas field is back on production with gas being flowed from the existing producing well, Viura-1 ST3. Production revenues from the Viura-1B well are expected in November 2024.
Prospex owns 7.2365% of the Viura field through its ownership of 7.5% of HEI. Prospex will receive 14.473% of the production income from the Viura gas field until payback of its initial capital investment from the acquisition in August 2024.
Having reached total depth, the operator has run wireline logging tools to evaluate the Utrillas-B formation prior to completing this interval with a 4-1/2 in liner. A multistage completion will then be installed to allow an extensive flow testing program to establish the flow rates from the different sections of the Utrillas-A prior to placing the well on long-term production. The flow testing program for the Utrillas B section will be performed later in 2025.
The well has already exceeded pre-drill expectations for the main reservoir target, the Utrillas-A, and preliminary analysis indicates it has encountered a new gas bearing reservoir interval in the previously undrilled deeper Utrillas-B formation.
