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Whitebark Energy has drill spinning at second Wizard Lake Oil Field horizontal well

Rex-2 development well is the second horizontal well to be drilled in a multi-well development program at the Canadian project.

Aerial view and plan of Wizard Lake project
The Rex project area at Whitebark’s Wizard Lake project in Alberta

Whitebark Energy Ltd (ASX:WBE) has started drilling development oil well Rex-2 to follow-up the Rex-1 oil discovery at Wizard Lake Oil Field in Alberta, Canada, which is now in commercial production.

The Rex-2 well spudded on July 27 after the Precision Drilling Rig 186 arrived on site the previous day.

This is the second horizontal well to be drilled in the multi-well development program for the Wizard Lake oil discovery.

READ: Whitebark Energy appoints rig and crew that successfully drilled Rex-1 to start drilling Rex-2

Located on a new pad constructed in May, Rex-2 will be drilled to the south, in the opposite direction to Rex-1.

The well will be drilled vertically to approximately 1345 metres RT from where hole-angle will be built to achieve a horizontal well 1600 metres in length in the Rex sands at about 1400 metres TVD.

Targeting Rex sands

At this depth, the well is targeting the Cretaceous Rex sands with drilling time estimated to take two weeks.

Total measured length of the well is expected to be 3000 metres and the planned horizontal leg through the Rex objective is approximately 400 metres longer than Rex-1.

Comparison of Rex-2 and Rex-1 horizontal wells.

Following drilling, the reservoir section will be completed using a multi-stage fracture stimulation program.

READ: Whitebark Energy’s Rex-1 oil discovery well continues to improve

Based on the experience and success of Rex-1, Rex-2 will be fracture stimulated using 35, 35-tonne stages each focused in turn through individual completion ports.

Successful completion and initial clean-up will be followed by direct connection to the production facilities.

Rex-2 well is operated by Whitebark’s Calgary subsidiary Salt Bush Energy Ltd.

Full mobilisation of equipment was held up about seven days due to continuing unseasonal rainfall with 248 millimetres being received since Rex-1 commenced production on June 5.

Rig 186 is a Super Single Series Rig which has a low load count and provides highly automated features designed to deliver operational efficiencies.

After constructing a pipeline and installing initial production facilities for Rex-1, Whitebark’s program for the remainder of 2019 includes the drilling of two new Wizard Lake wells, with Rex-2 being the first.

The company’s working interest in the Wizard Lake oil development will increase to 50% following the two well drilling program.

READ: Whitebark Energy adds to Wizard Lake land position following successful bid

Initial independent reserves assessment following the Rex-1 discovery indicated the likelihood of 12 to 17 follow-up well locations.

Whitebark has secured additional land at Wizard Lake that has increased this to a minimum of 20 well locations.

Shares opened 20% higher at 0.6 cents.

Quick facts: Whitebark Energy Ltd

Price: 0.01 AUD

Market: ASX
Market Cap: $30.25 m

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