Drilling & Completions | Seismic | Key Wells | Drilling Activity

Pulse Oil Drills First Exploration Well; 3D Seismic Targeting Mannville Formation

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Pulse Oil Corp. reported that its first exploration well, PUL HZ QUEENSTN 16-15-19-21 W4, has now reached a total measured depth of 3322m (TVD 1373m), including 1282m of lateral section cased with frac ports in preparation for completion.

The lateral section successfully targeted a new 3-D seismic interpretation intended to focus on the highest porosity / permeability lithic deposits within the Mannville-aged channel trend in the Queenstown area of Southern Alberta.

This first well was spudded on December 6, 2018 and took 10-days to complete drilling operations as planned. The indicative results of this first well has led the Company to commit immediately to a second well; the Nabors #28 drilling rig will now be re-positioned on the same surface location and will begin drilling operations on the second Pulse well within the next few days.

The wells are expected to be completed and tested in January with new production established immediately in 1st Quarter 2019.

Pulse President, Drew Cadenhead, commented, “Our first new well as a company has drilled nearly 1300m of horizontal section through what we interpret as the best-quality reservoir envisioned. Our new seismic interpretation has put us into the high porosity lithic sandstone section we were hoping for, with visual drill cutting porosities measured consistently up to 18%. The entire lateral section is oil stained, we are excited about completing an approximately 15-stage frac job on this first well. The discovery also gives us great confidence in the second well, 12-9, about to be drilled down the heart of this same reservoir, but in the opposite lateral direction from the first well. Drilling operations on the 16-15 well were completed safely, on time and on budget. With realized October oil prices of CDN $79/bbl, we look forward to the completion results on this well, hopefully the second well, and the cash flow potentially awaiting us from these new discoveries.”