Tuchola Field’s Gas in Place Estimated at 20 BcF, Says FX Energy

US-based FX Energy announced its internal estimate of gas volumes for the Tuchola field.

‘The dynamic flow test data indicate 20 billion cubic feet (Bcf) of gas in place, although a pressure buildup at the end of the test could indicate a somewhat higher figure. This compares to a volumetric mid-point estimate of 19.5 Bcf of gas in place. The company estimates recoverable gas at approximately 60% to 65% of actual gas in place. The company also estimates field production of approximately 9 barrels per day of condensate,’ reads a note released on Wednesday.

FX Energy said it expects to realize $7.42/Mcf, with production coming on stream as early as year-end 2016.

“We are seeing the essential elements come together for a potentially significant exploration play. Although we are keenly aware of the high risks, we also see the potential scale of this opportunity. This is the reason we came to Poland in the first place,” David Pierce, CEO of FX Energy, commented.

The American company completed the flow portion of the dynamic reservoir test on the Tuchola-4K well located in north central Poland last week, saying that the results further create momentum and add hopes for exploration in the area.