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Whitebark Energy progressing towards maximum flow rates at Wizard Lake Oilfield

Total field production at this stage (from two wells still in clean-up mode) is averaging about 550 bopd (barrels of oil per day) and 2.2 mmcfd (million cubic feet per day).

Whitebark Energy Ltd - Whitebark Energy progressing towards maximum flow rates at Wizard Lake Oilfield
Whitebark is acquiring 100% of the Wizard Lake oilfield via a staged purchase arrangement

Whitebark Energy Ltd’s (ASX:WBE) new facilities and pipelines at the Wizard Lake Oilfield have now been successfully operating trouble-free for 16 days.

The facilities separate the gas from the liquids for sales via the Petrus gas processing facilities which are 15 kilometres to the northwest.

Gas throughput has been held at 2 – 2.5 mmcfd (million cubic feet per day) while the wells continue to clean-up and stabilise.

Oil throughput uses a heated cascade tank system which uses gravity to separate the oil and water. This system removes up to 99.5% of the water prior to the oil being trucked to receiving stations.

Well operations over the last two weeks have focussed on re-establishing full flow from the wells.

Total field production at this stage (from two wells still in clean-up mode) is averaging about 550 bopd (barrels of oil per day) and 2.2 mmcfd.

Once Rex-2 is restarted these rates will increase. The production from the field will continue in a manner that will facilitate the well clean-up process and optimise production rates and uptime for the long term.

As with other nearby fields producing from similar reservoirs, the present three wells of the Wizard Lake Oilfield are expected to require up to 90 days to attain their maximum flow rates.

Long term production growth

Whitebark Energy Managing Director, David Messina said: “The successful commissioning of the new facilities and associated pipelines and wells has been an important milestone in the monetisation of the Wizard Lake oil field.

“The wells are slowly being brought back into production to ensure the long term production of the field is preserved and sales in 2020 maximised.”

On December 18, 2019 Whitebark announced a definitive agreement had been signed to acquire 100% ownership of the Wizard Lake oilfield via a staged purchase arrangement.

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