Buccaneer Energy Plc (AIM:BUCE, FRA:LMU1) CEO Paul Welch talked with Proactive's Stephen Gunnion about the successful organic oil recovery pilot project at its Pine Mills field in Texas, where production has doubled, and water cut has fallen sharply following nutrient injection.
Welch described how the organic oil recovery process targets mature waterflood reservoirs by stimulating naturally occurring microorganisms in the reservoir. After testing the reservoir, a tailored nutrient mix was injected, triggering a bloom that altered the interfacial tension between the rock face and trapped residual oil, allowing more oil to flow to the wellbore.
The results exceeded expectations. “We thought we'd get about a 30 to 40% increase… and at the moment, we've got 100% increase,” Welch said. One producing well saw its water cut fall from 80% to 0%, while another dropped from around 90% to approximately 40–50%.
The Pine Mills field, which has been under waterflood since the 1960s, is now producing closer to 100 barrels per day, up from around 80–85 barrels per day. Welch noted that if similar results were achieved field-wide, output could potentially rise significantly further.
Importantly, Welch highlighted that the treatment is cost-effective, roughly comparable to a standard workover. With operating costs around $20 per barrel and netbacks near $40 per barrel, higher volumes combined with lower water handling costs could enhance cash flow and reduce overall operating expenses.
Welch also discussed the potential to apply organic oil recovery across other assets, including Fouke and West Texas, subject to microbial testing. He suggested the approach could provide a competitive edge in acquiring mature waterflood assets.
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