88 Energy (88E ), an Alaska-focused hydrocarbon explorer, updated markets on its Hickory-1 well, part of 88 Energy's Project Phoenix (formerly known as Icewine East) on Alaska's North Slope.
88 Energy said Hickory-1's wireline programme had successfully completed and the initial interpretation confirmed the presence of multiple pay zones across all pre-drill targets, in addition to a new Upper SFS reservoir.
Estimated net pay calculated from wireline data was approx. 450 ft over all pay zones (gross pay estimated at over 2,000 ft). Average total porosity across all zones was 9-12%. Key zones identified in the Upper and Lower SFS had 11-16% total porosity.
88 Energy said its pre-drill expectations on reservoir quality and thickness were met or exceeded. A post-well analysis of cores and wireline data is now set to commence. This includes assessment and classification of resources across all reservoirs, including maiden resource estimates for the Upper SFS reservoir.
Hickory-1 will be cased and suspended in preparation for carrying out a flow test programme in the 2023/2024 winter season. 88 Energy said preliminary planning has already begun, including identification of suitable rigs.
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Initial results from Hickory-1 are encouraging, with multiple pay zones identified across primary and secondary targets. The wireline programme successfully validated preliminary interpretations and obtained data necessary to design and plan a targeted flow test of Hickory-1. Flow testing is expected in the 2023/24 winter operational season in Alaska.
A new upper SFS reservoir was also identified. Other wells in the immediate vicinity to the north have flowed and recovered light oil to surface from all the SMD, SFS and BFF reservoirs, which should derisk subsequent development.
Overall, results confirmed or exceeded 88E's pre-drill expectations.
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