Stone Energy is conducting tests to identify failure points at its Amethyst well in the Gulf of Mexico, with no assurance of production restoration, following a shut-in in April.
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Image from Stone Energy. |
Following the shut-in at the Amethyst well for a technical evaluation in late-April, Stone initiated acid stimulation work and intermittently flowed the well during the month of November at a rate of 10-15 MMcf/d, while observing and evaluating the well's performance.
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“We will evaluate our options to restore production from the well, and all potential impacts on our estimated proved oil and gas reserves, which we anticipate will continue for at least several months. The estimated proved reserves associated with the Amethyst well at year-end 2015 were approximately 79 Bcf of gas equivalent,” Stone Energy said. “We can provide no assurance that we will be able to restore the well's production to previous levels, or at all. We also cannot ensure that a replacement or sidetrack well would be economic, or that we would have sufficient liquidity if significant capital is needed to restore the well's production.”
Stone is currently diagnosing the pressure information in an attempt to determine the most likely failure points and expects to have a better understanding within one to two weeks. The company has shared it findings with the
The company has originally anticipated to conduct intervention activities at Amethyst in Q3 2016, according to its Q2 2016 report.
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