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Be the first with the news that moves the market- Bengal Energy (BNG) initiated the water injection program at its Cuisinier oil field on November 12, 2021
- The water injection rate is 377 barrels of water per day with 4,000 barrels injected thus far
- If successful, the program can be expanded fieldwide with the majority of the preparatory costs having already been incurred
- Dave Jackson sat down with CEO Chayan Chakrabarty to dig into the details behind the program
- Bengal Energy is a junior oil and gas exploration and production company with assets in Australia
- Bengal Energy (BNG) is unchanged trading at $0.085 per share
Bengal Energy (BNG) initiated the water injection program at its Cuisinier oil field on November 12, 2021.
The water injection rate is 377 barrels of water per day with 4,000 barrels injected thus far. The Cuisinier 24 well’s head pressure stands at 1,022 psi with plans to increase it to 1,350 psi.
If the pilot is successful, the program can be expanded field-wide with the majority of the required plant and equipment costs having already been incurred.
The Cuisinier field has produced approximately 4 per cent of the 95 million barrels of light crude oil (2P oil initially in place) – 29 million barrels net to Bengal’s 30.357 per cent working interest in Cuisinier – as per the company’s most recent third-party reserves evaluation.
In addition, the Barta joint venture at Cuisinier is expected to yield cost savings in water handling and disposal fees of approximately C$700,000 per year (gross). Higher injection rates should also free up additional volume in the Cuisinier-to-Cook pipeline to accommodate increased oil production.
Dave Jackson sat down with CEO Chayan Chakrabarty to discuss the program’s potential.
Bengal Energy is a junior oil and gas exploration and production company with assets in Australia.
Bengal Energy (BNG) is unchanged trading at $0.085 per share as of 11:20 am EST.
