The well was drilled to a total depth of approximately 2,800 feet and incurred approximately 200 feet of New Albany Shale, the target formation. The company is currently obtaining proposals from Halliburton and BJ Services for the design of a fracture stimulation treatment to be performed within the next sixty days.
"We are pleased that we obtained a rig and drilled this initial well with no problems," stated Kevan Casey, CEO of Unicorp. "Should this well be productive in commercial quantities, we will exercise our option to obtain a 100% working interest in approximately 7,600 acres in this prospect."
Unicorp, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on aggressively acquiring working interests in crude oil and natural gas properties with the intent of exploration and development or by enhancing production through the use of modern development techniques such as horizontal drilling and 3-D seismic. The company's goal is to achieve a high return on its investment by limiting its up-front acquisition costs, by quickly developing its acquisitions and by practicing a sound and smart approach to oil and gas exploration and development.
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