Sun River Reaches TD in Tx.
Sun River's wholly owned operating company, Sun River Operating, set pipe on the Neal Heirs #1 well in southwestern Panola County, Texas at a total depth of 11,073 feet. Logging was completed on December 25, 2010. All of the objective formations were penetrated and no unusual drilling conditions were encountered during drilling. Based on preliminary analysis, the well contains an estimated 700 feet of total pay in the Pettit, Travis Peak, Cotton Valley Sands, Bossier Shale and Haynesville Shale geological formations.
It is anticipated that the well will be hooked up and producing after a 30-60 day completion program.
This well is the first well drilled under a farm-in agreement with Devon Energy Production Company.
According to Donal R. Schmidt, Jr., the Company's CEO and President, "It was important that Sun River's first well under new management be a commercial success. I am happy to announce that this appears to be the case. Based on downhole logs and shows, the well looks better than we initially anticipated in both the Cotton Valley and Travis Peak formations. Additionally, we found the Pettit formation which is a significant and unanticipated bonus. The Bossier/Haynesville shale formations were consistent with those found in other wells in the area. Overall, Sun River's operating team did an outstanding job in getting this well drilled under an extremely tight time schedule. We are looking forward to drilling additional Test Wells under the terms of our agreement with Devon."