AED Spuds Michigan Well
American Energy Development Corp. (AED) announced that drilling has commenced on the Cremer 1-1 well site. As with AED's first drill site, Brown 2-12, its second site, Cremer 1-1, is located on the 1,343 acre Dansville Prospect in Southern Lower Michigan. With the start the Cremer 1-1 drill program, AED continues its strategic plan to target a pinnacle structure within the Niagaran reef formation.
Spudding of the Cremer 1-1 began on Tuesday evening April 24. AED anticipates the drilling program will continue for the next 9-10 days, with projections of hitting pay on or about May 3rd or May 4th, before reaching a total depth of approximately 4,500 feet.
Historical records of the Niagaran reef production in Michigan confirm more than 4,200 wells have been drilled targeting reef formations, producing a total of 472 million barrels of oil and 2.8 trillion cubic feet of natural gas, with development of reef trends lead by major industry players, including Royal Dutch Shell, BP and ExxonMobil. According to a recent USGS report on the basin, the recoverable reserves are in excess of 1.8 billion barrels of oil and 17 trillion cubic feet of natural gas.
"AED is excited to begin the drilling program on the Cremer 1-1. The next few days will be critical in continuing to execute our strategy of exploring the well sites in a timely and cost effective manner. We intend to provide timely updates of our progress during the course of the operations." said Herold Ribsskog, president of AED.
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