The Coal Creek lease is the second of six leased areas slated for drilling by the Company as part of the development of its Arkoma Basin CBM assets. Further preparations include the construction of almost 1 mile of road and the upgrading of further roads providing access to the drill site. A pipeline that will tie into gas market lines is also under construction on the Coal Creek lease at this time. Depths expected for the Hartshorne CBM gas target on the LEX 1 well will be approximately 25% deeper than those on the Company's Wagnon lease.
Current drilling on the Calleigh #4-2 well is proceeding as planned, with the lateral portion of horizontal drilling in progress at this time. The target zone has been encountered, and the estimated 2,000' horizontal section is due for completion late this week. Results are expected to follow upon completion and hookup to existing pipeline, compressor and area infrastructure. The Calleigh #4-2 well is the fourth of up to five horizontal gas wells to be drilled on the Company's Wagnon lease.
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