Pine Mills oil field : Nostra Terra completes Cypress farm-out well

Nostra Terra, a UK-based oil and gas company, said that it has completed the Cypress farm-out well at its Pine Mills oil field in the Permian Basin in Wood County, Texas.

The company had perforated the Cypress farm-out well in the target formation in December 2020. After this, the well was swabbed for removing drilling fluids and for relieving hydrostatic pressure.

Nostra Terra said that production from swabbing was 100% oil at a strong rate.

The company had completed the construction of the tank battery, which includes a couple of storage tanks of 400 barrels each.

Nostra Terra also connected the flowlines to the tank battery and had put the well into continuous production.

Nostra Terra completes Cypress farm-out well at Pine Mills oil field. Photo courtesy of Nostra Terra Oil and Gas PLC.

Matt Lofgran – Nostra Terra CEO said: “The logging confirmed the presence of an oil bearing target reservoir, which came in at a higher depth than prognosed, indicating a higher oil column and the potential for more reserves than originally anticipated. The swabbing results further support the strength of this well and the acreage at Pine Mills.

“We plan to update on the financial impact of this well after we announce flow rates from the well. With the well now in production we’ll also in due course be adding this to our Senior Facility. This will play a role in future development of the Pine Mills oil field and other assets with non-dilutive funds.”