Jura Energy Corporation (Jura) disclosed Wednesday that Badar-2 development well in the Badar lease in the Middle Indus Basin, Pakistan has been drilled to the total depth of 4,740 feet (1,445 meters) in the Sui Main Limestone formation of Eocene age. Open hole wireline logging is in progress. The complete results are expected in a couple of days.
Anticipated future incremental production from Badar lease after drilling of development well Badar-2 is expected to be entitled to a gas price of $6 per MMBtu (million British Thermal Unit) under Pakistan’s Petroleum (Exploration & Production) Policy, 2012.
The Badar lease covers an area of 47.1 square miles (122 square kilometers) and is located in the Middle Indus Basin of Pakistan, close to major industrial gas markets and infrastructure.
Jura holds a 7.89 percent working interest in the Badar lease, which is operated by Petroleum Exploration (Pvt.) Limited.
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