Gas to power operations enable increased oil production at Pathfinder #2 well:
20 BOPD and 280 mcf/day of gas over first 7 days
Takes total field production to ~50 BOPD with further upside anticipated
Amerigo Vespucci well flowing gas to generators, enabling reservoir equalisation:
First ever oil production expected this week when well goes on pump
Pathfinder #1 well to be completed for oil and gas production in coming weeks:
Greenhorn formation fracked and tested previously which flowed 75 barrels of oil and no water during 4-day flowback testing
Additional gas from Pathfinder #1 to be tied in for additional gas to power generation
Well to be fitted with production string and pump jack in coming weeks
The Pathfinder Field delivers multiple stacked producible pay zones:
Pathfinder #1 intersects the Pierre, Niobrara the Greenhorn reservoirs (see Image 2 below)
Increased Proven Developed Producing and Probable Reserves expected
Bitcoin mining operations powered by AXP's gas-to-power infrastructure under the Joint Development Agreement (‘JDA') with US-based Blackhart Technologies Limited (‘Blackhart') are meeting expectations with pleasing uptime and reliability achieved in the first full week of operations. These are critical benchmarks for planned scale-up.
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