During the summer, Shelton Petroleum completed a vertical seismic profile and fracking of two wells at Rustamovskoye. As a direct result of the fracking the company raised the field’s production to over 200 barrels per day so far in August, compared to 120 in June.
On the Rustamovskoye field in Russia, measures have been implemented to counteract the natural depletion that all wells are exposed to and also to maximize information on reservoir characteristics in order to determine drill locations and optimize drilling technology. RS#2 and RS#1 have produced approximately 170 and 30 barrels per day respectively so far in August. RS#2 was drilled following RS#1 and the higher flow rates in the second well illustrate how a deepened understanding of the reservoir’s properties allow for higher precision in drill location and use of drilling technology.
The vertical seismic profile performed during the summer provides further important data for understanding the reservoir properties surrounding well RS#2, where new production wells are planned to be drilled.
The results from the work performed during the summer are encouraging and strengthen management’s confidence in the potential of Rustamovskoye and the company’s adjacent Aysky and Suyanovskoye fields. The analyses and modeling of available data will constitute the base for the upcoming drilling program.
For more information, please contact:
Robert Karlsson, CEO, Shelton Petroleum, tel +46 709 565141 robert.karlsson@sheltonpetroleum.com
Definitions
Fracking is a method of breaking up the rock of the reservoir by inserting fluids with additives under pressure. It allows for oil to flow more freely in the reservoir into the wellbore.
Vertical seismic profile (VSP) is a method of measuring seismic velocities of rock layers in a well. VSP provides higher resolution on a defined area compared to surface seismic. The results give operators a clearer understanding of the best ways to exploit the reservoir, enabling more accurate drilling decisions.
About Shelton Petroleum
Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. The company holds three licenses in the Volga-Urals area and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. Shelton Petroleum is pursuing an integrated business model and holds an equity stake in Baltic Oil Terminals PLC. The Shelton Petroleum share is traded on the NGM stock exchange under the under the symbol SHEL B.