Mogul announced the commencement of its initial well on the Stafford lease in Jackson County, Texas.
The Stafford Well #1 is permitted to a total depth of 7,400 feet and will test several potential intervals within the Frio formation. Management anticipates the drilling to total depth will take about 8 days. Well completion and testing should begin immediately thereafter.
The targeted zones are predicted at depths between 5,570 and 7,350 feet. Pending positive results, an additional 6 potential development well locations are indicated. Based on analysis of productive well histories offsetting this location, Mogul anticipates testing up to 12 potential oil saturated zones and 2 potential gas zones.
President and CEO Tim Turner said, "Our team has worked very hard to get to the stage where we would spud the first well in our South Texas development program. Mogul and our partners certainly look forward to reaching TD sometime late next week and testing these potential zones and seeing the results of our efforts."
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