Worthington Energy Inc completes ''4 Point Test'' on I-1 well.
M2 EQUITYBITES-October 9, 2012-Worthington Energy Inc completes ''4 Point Test'' on I-1 well(C)2012 M2 COMMUNICATIONS http://www.m2.com
Energy company Worthington Energy Inc (OTCBB:WGAS) reported on Monday the completion of the "4 Point Test" on its I-1 well, which is required by the Railroad Commission of Texas (RRC), the state regulatory agency for the oil and gas industry.
This test measures the deliverability of a well as defined by the well's capacity to produce. It is used by the RRC to allocate production quotas.
According to the company's president & CEO, Tony Mason, the I-1 well was opened on a seven choke and was allowed to stabilise for three hours. It flowed well on both a six choke and a seven choke, and the extrapolated oil rate flow ranged between approximately 200 to 400 BOEPD (barrels of oil equivalent per day).
The CEO added that the six choke will be its initial production choke once the pipeline is charged. The oil produced was 38.3 API WTI and the pipeline pressure was up to 80 psi, but it needs to be at least 300 to 400 psi in order to begin 24-hour production.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Oct 9, 2012|
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