Tethys Oil Begins 3-Well Drilling Program in Lithuania

Tethys Oil announced Tuesday that a three well drilling program on the Raseiniai license, onshore Lithuania, has commenced.

The three wells are scheduled to be drilled back to back and target Silurian reefs mapped by a 30 square mile 3D seismic study, which was completed in 2014. The first well, Bedugnis-1, will be drilled vertically to a total depth of 3,608 feet in an operation which is expected to last approximately 45 days.

Tethys holds a 30 percent indirect interest in the Raseiniai license, which covers 592 square miles onshore Lithuania. In 2013, the Lapgiriai-1 exploration well in the Raseiniai license confirmed the presence of oil in the Silurian limestone formation and small amounts of oil were produced to surface.

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