document: In the quarterly report on 12 August 2019, Valeura Energy Inc. provided the production test details for Inanli 1 appraisal well at the Yamalik discovery in Block F18-C (deep) in the Thrace Basin and it was reported that a 21 m gross interval between 4,263 to 4,284 m depth was stimulated and the well started flowing since 3 August 2019. Average gas flow rate during the first eight days was 643 Mcf/d along with 44 bw/d whereas condensate production was low in the well â condensate gas ratio was 5 bbl/MMcf. Petrophysical data indicated that the zone is moderately fractured with a 14.2 m of net sand of 5% average porosity which is above the cutoff value of 3% porosity. The company carried out small reservoir stimulation prior to production testing and applied artificial lift.  Valeura had reported on 25 June 2019 that it was commencing the reservoir stimulation and testing operations in Inanli 1 well and all the required equipment have been arrived at the wellsite. The company planned to conduct Diagnostic Fracture Integrity Test (DFIT) and Extended Leakoff Test (XLOT) operations during that week, which will be followed by the reservoir stimulation during the first week of July 2019. The company intends to test at least four zones.  Valeura had earlier reported on 9 May 2019 in the quarterly report that it had conducted two DFITs in Inanli 1 well which indicated the presence of deep gas at a very high pressure. The company had reported on 28 January 2019 that the Inanli 1 well reached the final TD of 4,885 m in the Eocene Kesan Formation and the casing was set to secure the well for future completion, fraccing and production testing. The objective zone between 3,270 m to 4,885 m (1,615 m gross) within the Mezardere â Kesan formations is high net-to-gross sandstone and, on the basis of drilling and wireline logging data, it is interpreted to contain over-pressured gas. The well encountered more natural fracturing than the Yamalik 1 well, containing four distinct intervals of approximately 600 m gross â all four within the Kesan formation. The drilling rig was released to drill next appraisal well, Devepinar 1, located 18 km west of Yamalik 1. Inanli 1 was the first of the three-well appraisal drilling programme at the Yamalik discovery.   Inanli 1, located 6 km north-east of Yamalik 1 and designed to test the vertical extent of the basin-centred gas play, was spudded on 8 October 2018 using the KCA Deutag T-700 land rig with a PTD of 5,000 m. The main objectives were the Eocene Teslimkoy and Kesan formations, lying just below the Mezardere formation. The company expected to complete the drilling activity in late December 2018 which will be followed by a fraccing and testing operation during Q1 2019. It will be the final earning well under Phase 3 of the Banarli farm-in to be funded by Equinor (previously Statoil Banarli Turkey B.V.).    Valeura Energy had earlier released the results for third quarter (quarter ending 30 September 2018) on 13 November 2018 in which it was reported that the drilling activity in Inanli 1 well was continuing and it reached 3,460 m depth near the base of Mezardere Formation where a casing will be run. The well encountered high pressure sand in lower Mezardere Formation of Oligocene age between 3,262 m to 3,440 m depth which the company believed was gas-bearing. The company subsequently reported on 20 December 2018 that the well was drilling at 4,145 m depth, achieving positive results. On the basis of drilling and gamma ray log data recorded while drilling, the well was reported to have encountered the top of the main objective at around 3,270 m depth. Initial results suggested 40% net-to-gross of the drilled prospective section which was similar to Yamalik discovery well. The well was reported to have encountered over-pressured gas throughout the objective section with several instances of gas flowing through the wellbore to the surface which was safely flared.     The company had completed the Yamalik 1 re-completion operation and connected the newly-build pipeline to the gas production infrastructure in Q3 2018 before initiating long term production testing.Â  Â     Â     Background Information    On 6 January 2017, Valeura announced that it had received a USD 6 million payment and subsequently completed the farm out to Statoil ASA for its F18-C and F19-D1, D4 licences in the Thrace Basin. It was announced on 30 December 2016 that the company had received the relevant government approvals for the farm in. Statoil can now earn up to a 50% interest in the deep rights by investing USD 36 million in the Banarli licences. The USD 6 million payment is a contribution to back costs incurred on the Banarli licences. The agreement covers the farm-out of the deeper formations, below approximately 2,500 m, in the licences. Valeura Energy will continue to hold 100% of the rights to the shallower formations.     Valeura spudded the Yamalik 1 new field wildcat on 13 May 2017. It was designed to evaluate a potential high-impact, over-pressured, basin-centred gas play below approximately 2,500 m in the Thrace Basin. Statoil funded the drilling programme on a 100% basis up to a cap of 110% of the AFE amount.     On 15 May 2018, Statoil officially changed its name to Equinor.
summary: Valeura Energy Inc. provided the production test details for Inanli 1 appraisal well at the Yamalik discovery in Block F18-C (deep) in the Thrace Basin and it was reported that a 21 m gross interval between 4,263 to 4,284 m depth was stimulated and the well started flowing since 3 August 2019. Average gas flow rate during the first eight days was 643 Mcf/d along with 44 bw/d whereas condensate production was low in the well â condensate gas ratio was 5 bbl/MMcf.