Petro-Victory Energy to increase oil production from Brazil’s São João field

April 07, 2024

(WO) – Petro-Victory Energy Corp. provided an update on the workover campaign to increase oil production in the 100% owned São João field in the Barreirinhas basin in Maranhão, Brazil.

Source: Petro-Victory Energy Corp.

On Feb. 27th, 2024, the SPT-129 workover rig mobilized from the SJ-01 well to the SJ-06 well with a workover program designed to open an additional 12.4 m across 3 zones in the Tutoia formation.

Petro-Victory successfully re-entered the well to a depth of 1,731 m, logged the well, and subsequently perforated 8.3 m in 2 planned zones between 1,263 m and 1,516 meters depth with oil and associated gas shows confirming expectations that this is a gas driven, oil prolific, formation.

The well was successfully completed on April 1, 2024, with 1 ¾ " insert pump, gas anchor and API-228 pump-jack, being installed over the well. The SJ-06 well now has 15.2 m of oil pay zones open in the Tutoia formation. The open zones are clean sandstones exhibiting 19% average porosity.

Specific data for the initial production from the SJ-06 well is as follows:

  • During the initial 35-hour test period, the well surged to a rate of up to 930 bopd for a 3-hour period.
  • The SJ-06 well averaged 228 bpd during the initial 35-hour test period.
  • Oil from the Tutoia formation is a light crude oil with an API gravity of 40.9°.
  • The SJ-06 well has total proved ("1P") reserves of 69,000 bbl oil and total proved plus probable ("2P") reserves of 134,000 bbl of oil.

Petro Victory Energy Corp. is engaged in the acquisition, development, and production of crude oil and natural gas resources in Brazil. The company holds 100% operating and working interests in 41 licenses totaling 272,912 acres in two different producing basins in Brazil.

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