Max Petroleum has reported positive drilling results at the Uytas field in Kazakhstan.
The UTS-14 appraisal well successfully reached a total depth of 200 m (656 ft), with electric logs indicating 8 m (26 ft) of net oil pay in Cretaceous reservoirs over a 42-m (138-ft) interval ranging in depths from 115 m (377 ft) to 157 m (515 ft), in line with expectations. Reservoir quality is excellent, Max Petroleum said in the release. Hydrocarbon shows were not encountered in the shallow Albian section.
The company said it plans to complete the well and place it on test production as soon as practicable.
Recommended Reading
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Buying Time: Continuation Funds Easing Private Equity Exits
2025-01-31 - An emerging option to extend portfolio company deadlines is gaining momentum, eclipsing go-public strategies or M&A.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
2025-01-08 - The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.