Success of the AND-5 Well Drilling Operations
Petro-Victory Energy Corp. (TSXV: VRY) is thrilled to report the successful conclusion of drilling operations for the AND-5 well in the Andorinha Field, in collaboration with Azevedo & Travassos Energia (ATE).
Drilling Highlights
The drilling process started on June 25 and was completed on July 5, reaching a depth of 1,165 meters. The operation effectively navigated through various sedimentary and basement rock layers.
Technical Execution and Equipment Used
The drill utilized a Drake-2 onshore hydraulic rig. Advanced wireline logging was performed by Halliburton, during which a 7" nominal production casing was successfully installed, marking a significant milestone in the drilling process.
Reservoir Findings
Petro-Victory's technical team conducted an extensive petrophysical analysis, which revealed 13 meters of net oil pay across four intervals in the reservoir, utilizing a salinity threshold of 3,500 ppm. This discovery underscores the potential productivity of the AND-5 well.
Next Steps in Operations
With the drilling phase successfully completed, the company plans to mobilize a completion rig to conduct special saturation logging. This step is crucial for characterizing the productive intervals more accurately.
Following this phase, well testing, completion, and eventual tie-in to the Andorinha Collection Station will be executed. This multi-stage approach is designed to optimize production readiness and enhance overall output capacity.
About Petro-Victory Energy Corp.
Petro-Victory Energy Corp. focuses on acquiring, developing, and producing crude oil and natural gas resources in Brazil. The company proudly holds 100% operating and working interests in 38 licenses, encompassing a vast area of 257,604 acres across two distinct producing basins.
The company is committed to generating shareholder value through strategic investments in high-impact, low-risk assets. The Company's shares are listed on the TSXV under the ticker symbol VRY, representing a steadfast commitment to growth and innovation in the energy sector.
Frequently Asked Questions
What is the significance of the AND-5 well?
The AND-5 well is crucial for Petro-Victory Energy as it presents opportunities for oil production and future revenue generation.
When did Petro-Victory start drilling the AND-5 well?
Drilling operations for the AND-5 well commenced on June 25 and concluded on July 5.
How deep is the AND-5 well?
The AND-5 well reached a total depth of 1,165 meters.
What steps follow the successful drilling of the AND-5 well?
Post-drilling, the company plans to mobilize a completion rig, conduct saturation logging, and carry out well testing and completion.
Where can investors find more information about Petro-Victory?
Investors can learn more about the company’s operations and financial performance by visiting the Petro-Victory Energy website or checking their stock on TSXV under the ticker VRY.
