Petro-Victory Energy provides operational update at São João oil field in Brazil

(WO) — Petro-Victory Energy Corp. provided an operational update regarding its workover program on the São João Field. The SJ-11 oil well came online at rates of 640 bopd.

São João Field Workover Success

Petro-Victory re-entered the SJ-11 well, removed the failed progressive cavity pump system and equipped the well for production using a pumpjack.

In addition, two additional reservoirs were penetrated at depths of 1,297m and 1,467m to provide potential oil production gains to the existing open and proven oil zone at 1,490m. An additional nine reservoirs have been identified at SJ-11 for future oil testing and production.

The SJ-11 well was brought online for a total of 23 hours during Dec. 15 – 17, producing a total of 613 barrels of oil. The well provided an extrapolated daily average rate of 640bopd (in 2021 the SJ-11 well averaged 7bopd).

Given materially higher than anticipated oil production rates, Petro-Victory has begun implementing a production facilities/storage expansion project to increase oil storage capacity at the field.

Richard F. Gonzalez, Petro-Victory CEO commented, “SJ-11 demonstrates the significant upside that our Company continues to unlock through low-cost well interventions. This is our first step, since assuming operatorship a couple of months ago, to extract value from our São João field. We look forward to bringing SJ-06 and SJ-01 oil production online shortly."