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New Standard Energy Prepares to Sidetrack Gibb Maitland-1 Well

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New Standard Energy reported Wednesday that the Gibb Maitland-1 well had been drilled from 8,858 feet to a depth of 9,514 feet. Recent activities have focused on attempting to free the drill pipe and bottom hole assembly (BHA) that became stuck in the well bore during operations.

Forward operations will involve continuing to free the drill pipe and BHA to enable the drilling contractor to pull out of the hole, change the drilling assembly and drill ahead towards the primary coring target of the Goldwyer formation. Given the primary focus is on completing the Gibb Maitland-1 well, preparations have also been made to side-track the well should it be required with all necessary equipment and expertise already at the Gibb Maitland well site.

The primary objective of the of the first phase of the drilling campaign, including the Gibb Maitland-1 well, is to gather a comprehensive modern data set over the Goldwyer Formation via a detailed evaluation program consisting of mud logging, logging-while-drilling, coring and wireline logging. This data will be used to assess the resource potential of "unconventional" hydrocarbons in shale reservoirs within the Kidson sub-Basin, where New Standard and ConocoPhillips have a dominant acreage position.

No horizontal drilling or hydraulic fracturing will be involved in this phase of the program and no testing or flow of hydrocarbons to surface is planned.

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