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May 17, 2023 (Investorideas.com Newswire) Tag Oil Ltd. recently announced the successful first oil production in its vertical well, BED 1-7, at the Badr Oil Field (BED-1) in the Western Desert of Egypt. Read more to see what experts are saying and what catalysts are up and coming. TAG Oil Ltd. (TAO:TSX.V; TAOIF:OTCQX) has announced the successful first oil production in its vertical well, BED 1-7, at the Badr Oil Field (BED-1) in the Western Desert of Egypt. The company perforated the Abu Roash F Formation (ARF) reservoir and completed a diagnostic fracture injectivity test (DFIT). In the test, TAG used "hydraulic fracture simulation," which involved the injection of fluids under high pressure into low-permeability rock underground to induce fractures and increase the rock’s permeability for better oil extraction. The fracture was simulated with 110 tons of sand treatments and a pump schedule, confirming the company’s reservoir models and projected stable performance. The well flowed naturally to the surface, and TAG was able to recover 40% of the fracture fluid and produce over 500 oil barrels during the short flow back from the test. The reservoir was connected to a flowline to the BED 1 field’s facilities onward into […]
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