Sign up Australia
Proactive Investors - Run By Investors For Investors

88 Energy successful completes first fracking of Icewine-2 well in Alaska

Production testing is now just around the corner, once fracking operations and reservoir sampling is complete.
onshore drilling operation
Stage 1 fracking was completed in the Lower Zone of the HRZ shale

88 Energy Ltd (LON:88E) told investors it has successfully completed the first of two planned stages of fracking in the Icewine-2 appraisal well in Alaska, where the company plans to conduct production tests in the coming weeks.

In a statement, the company said the Stage 1 stimulation operation into the lower zone in the HRZ shale was a success; it was executed over the weekend as planned and all proppant was placed in the reservoir.

WATCH: Zak Mir on 88 Energy

It added that the preparations for the Stage 2 stimulation, in the upper HRZ zone, was now nearing completion and it expected that the frack job would be completed over the next twelve hours.

After that, the plan is to flowback from the upper zone of the well, until a representative sample can be obtained, before flow from the lower zone is comingled and further samples are take. Following the sampling phase, the two zones in the well will then be opened up gradually so that the company can measure the maximum potential flow rates.

88 Energy said further operational updates will follow ‘as and when appropriate’ throughout the programme.

In early afternoon trading, 88 Energy shares were 0.6%, or 0.02p higher at 4.08p. 

 -- Adds video link, share price --

Jamie_55a91591db06b.jpg
Why Invest In 88 Energy ltd? Read More Here

Register here to be notified of future 88E Company articles
View full 88E profile View Profile

88 Energy ltd Timeline

Related Articles

Offshore oil operations, Ireland
July 11 2016
Arnstein gives some 10.3p per share for his net valuation Lansdowne’s stake in Barryroe, including 6p per share for an initial development which would target 70mln barrels of oil.
Tlou Energy: Access latest PPT from Proactive's CEO Sessions
Mon
Tony Gilby talked pathway to market with investors.
trader celebrating
August 26 2016
San Leon is issuing new shares at 45p which is a 54% premium to the last price before trading was suspended in January.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use