Canadian company Bankers Petroleum said on
Tuesday its fourth-quarter average production from the Patos-Marinza oilfield in
Albania totalled 21,865 barrels of oil per day, down 7.0% on the
quarter.
A total of 38 wells were drilled and rig released during the
fourth quarter in the main area of the Patos-Marinza oilfield, 37 of which were
horizontal production wells and one lateral re-drill, the company said in a
statement posted on its website.
In the fourth quarter of 2014, Bankers'
first horizontal well was drilled in Kucova.
A total of 30 of these
wells, including the Kucova well, were completed and are on production, and the
remaining will be placed on production in January.
Bankers' main
operations are located in Albania, where the company has the full rights to
develop the Patos-Marinza and Kucova heavy oilfields pursuant to 25-year licence
agreements with the Albanian National Agency for Natural Resources and a
Petroleum Agreement with Albpetrol.
The Patos-Marinza oilfield is the
largest onshore oilfield in continental Europe, holding approximately 7.7
billion barrels of original oil in place. The Kucova field has 297 million
barrels of original-oil-in-place.
Bankers also holds a seven-year
exploration licence on a 185,000 acre block named "Block F" in Albania, which is
also prospective for natural gas.