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88 Energy reports good progress at Hickory-1, flow test results expected shortly

10:15, 25th March 2024
Victor Parker
Vox Newswire

88 Energy (88EFollow | 88E, an Alaska-focused hydrocarbon explorer, issued an update on its ongoing flow testing programme at the Hickory-1 discovery well, part of 88 Energy's flagship Project Phoenix on Alaska's North Slope.

88 Energy is conducting two flow tests at Hickory-1, one each for the Upper SFS and SMD-B reservoirs (see map below). The tests should yield an extensive suite of data, including downhole and surface fluid samples, downhole pressure and temperature data, and surface pressure and temperature data. Flow rates of oil, gas and water will also be recorded.

Today, 88 Energy announced that flow testing of the Upper SFS reservoir was nearing completion, expected by the end of the week. Results will then be analysed and announced in the following days. Flow testing of the shallower SMD-B reservoir is scheduled to begin immediately following the flow back of the Upper SFS, and should last around 14 days. As with the Upper SFS test, the length of the program may be adjusted depending on operational conditions.

Completion of all operations and demobilisation from the site is expected around mid-April.


View from Vox

88 Energy's flow test of Hickory-1 is approaching the halfway mark with the Upper SFS portion nearly complete. The discovery well is located within 88E's flagship Project Phoenix acreage, directly adjacent to the Trans-Alaska Pipeline System and the Dalton Highway. The tests aim to assess 647 million barrels of prospective oil resources.

Hickory-1 is a vertical well, designed to provide information critical to development planning, such as reservoir deliverability, fluid compositions, pressures and connectivity. The well will be used for testing only. For production, horizontal wells are planned, modeled to deliver 6-12 times greater flow rates than vertical wells.

88 Energy is optimistic about flow test results from Hickory-1, as its northern neighbor on Alaska's North Slope, Pantheon Resources, recently announced a significant 3rd party estimated 2C contingent resource for the Lower Basin Floor Fan reservoir - one of the deepest hydrocarbon-bearing pay zones intersected by Hickory-1. 88E recently said that members of the Pantheon team had been made available to share their knowledge of the adjacent acreage.

Project Phoenix is being jointly developed by 88 Energy and Burgundy Xploration. Hickory-1's flow test programme remains fully funded and on track to wrap up in mid-April.


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