Pennpetro Energy’s CT1H well, located in Texas, has demonstrated promising results with a high output of oil barrels during its initial month of production. The fossil-fuel company shares their insights on this achievement.
Production Highlights
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Since commencement on November 1, the CT1H well has yielded an impressive total of 4,827 barrels of oil, with an average daily production rate of 161 barrels (BOPD). It is worth noting that this calculation includes two days of no production and accounts for downtime periods due to site and pump maintenance activities.
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Furthermore, the well has exhibited increasing levels of gas alongside the oil. On select days, production has surpassed 300 BOPD, achieving a peak daily production rate of 410 BOPD.
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Encouragingly, there is a positive trend observed in Pennpetro Energy’s daily oil production. However, it may take approximately another month or so for the well to stabilize and achieve a consistent flow rate.
November Oil Sales
In the month of November alone, Pennpetro Energy has successfully sold a total of 4,468 barrels of oil.
