Italy-focused Sound Oil reported Wednesday that it has made a gas discovery at its Nervesa well, onshore Italy.
After mud log gas shows were recorded while drilling across several sandstone intervals within the target zone of the Miocene San Dona formation, Sound said it has now completed logging operations and is pleased to confirm the identification of 1,562 feet of gross pay and 785 feet of gross reservoir, with 151 feet of net gas pay in 13 separate zones.
Sound said that planning for completion operations has now begun with a view to providing the necessary well test data for certification by the Italian Ministry of Economic Development.
Sound added that it will make a further announcement confirming the estimated quantity of commercial gas and expected cash flows once it has fully reviewed the well test results. Following completion of testing, Sound plans to apply for a production concession ahead of achieving first gas sales in 2015.
Sound CEO James Parsons commented in a company statement:
"In October 2012 we set a strategy of significant growth through the drilling of four material wells in Italy within 24 months. Nervesa is the first of those drills and has confirmed a gas discovery. Whilst a comprehensive technical review is now required to confirm the size of the discovery, it appears sufficiently large to deliver important cash flows and provide funding alternatives for the 2014 drill program.
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you