FX Energy provided an updated status report on its drilling operations in Poland and the U.S.
The Kutno-2 well has reached a depth of 1,148 meters. Current plans are to set 13 3/8ths inch casing at approximately 1,600 meters, then change out the drilling rig. Nafta Pila's IDM 2000 rig with 500 ton load capacity will drill to estimated total depth of approximately 6,500 meters.
The Kutno-2 well is planned to test a large (approximately 35,000 acres or 140 square kilometers) 2-D defined Rotliegend structure at a depth of approximately 6,500 meters (21,000 feet) in the Company's 700,000 acre Kutno concession. FX Energy is the operator and holds 50% of the Kutno concession; PGNiG holds 50% interest.
The Plawce-2 tight gas well is at total depth of 4,200 meters, with approximately 480 meters of Rotliegend sandstone. Gas shows and no water were evident on logs and in cores and a DST at 4130-4145 meters. Current plans are to frac at least one and possibly up to three zones in the upper portion of the Rotliegend. After testing, the well is expected to be completed as a vertical producer.
"The absence of free water in the Rotliegend, combined with higher than anticipated porosities and a much thicker pay zone than anticipated, support our confidence in the tight gas play in our Fences concession area," said David Pierce, the Company's CEO.
The Plawce-2 well is located on an uplifted tight Rotliegend block within the 850,000 acre Fences concession. The Company holds a non-operating 49% interest in the Fences concession and the Plawce-2 well; PGNiG operates and holds 51% interest.
U.S. Alberta Bakken
In Montana, FX Energy is currently drilling a 4,000 foot horizontal section in the Anderson 14-29 well. FX plans to complete drilling operations on the 14-29 well in about two weeks and move onto the next location in the block, the 15-13. Current plans call for at least one further well yet this year. All the wells are designed for 4,000 foot laterals with multi-stage fracs.
The Company has already re-entered, drilled and fracked a vertical well in its Cut Bank acreage. Based on the results of that vertical well, FX plans to drill a horizontal well on a nearby location. FX Energy is operator and holds a one-third working interest in approximately 75,000 net acres; American Eagle Energy, Inc., and Big Sky Operating, LLC, each own a one-third working interest.
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