The Masseria Petrilli concession is located in the province of Foggia in the Puglia Region.
Geologically, the concession is situated in the Bradanic foredeep, a narrow basin confined at the west by the allochthonous Apenine massif and at the south by the Apulian platform. This area is characterized by a strong sedimentary accumulation of Plio-Pleistocene period up to a depth of 3000 metres. The overlaying lithology of shales and sandstones, combined with the structural geometry, constitutes an ideal environment for the development of hydrocarbon deposits, where the shale horizons assume the dual role of source-rock and seal, with sandy levels becoming potential gas bearing reservoirs.
Six wells have been drilled across the license area; two of which are still open: Torrente Salsola 3 and Torrente Salsola 4.
The Company acquired a 50% working interest in the Masseria Petrilli concession in 2013.
This concession is currently not producing. The Company, together with its production partner in the concession, is evaluating the possibility of drilling a deviated well into the crestal area of the Torrente Salsola 3 well and its surrounding structure in order to unlock residual reserves.
Masseria Petrilli is currently not producing due to problems affecting the concession’s transportation of natural gas production.
In December 2016, the cumulative production of the Torrente Salsa 3 well was assessed at approximately 0.38 BCF.
In December 2016, the cumulative production of the Torrente Salsola 4 well was assessed at approximately 0.73 BCF.
The total production of the Torrente Sasola 2 well, now closed, has been assessed at approximately 0.15 BCF.
The cumulative total quantity of natural gas produced from the Masseria Petrilli concession is therefore 1.26 BCF.
In the most recent reserves assessment, carried out in March 2017, the remaining proven reserves (2P) have been assessed at approximately 1.09 BCF.
The Company is confident that the significant untapped reserves can successfully be brought to production by means of a successful sidetrack.
|Location||Foggia, Puglia region|
|Working interest||Canoel Italia S.R.L. (Operator)||50%|
|Gas Plus Italiana||50%|
|Reserves (2P)||1.09 BCF|