Delta Oil & Gas to Begin Drilling at Palmetto Point Prospect
Delta Oil and Gas says that drilling is expected to commence this week on its first of ten potential natural gas wells at Palmetto Point, Mississippi.
The Drilling Program shall be conducted by Griffin & Griffin Exploration in its capacity as Operator. This will consist of the drilling, logging, testing, completing and equipping for production (or if applicable, the plugging and abandonment) of ten wells. Depending on rig availability, it is expected six of the first ten wells will be completed within the next two to three weeks. Griffin anticipates drilling to a subsurface depth equal to such depth as is necessary to penetrate the sands of the Frio Formation identified as potentially productive of oil and/or gas. Griffin has drilled, owned or operated more than 100 Frio wells in the region.
The prospect wells are located in the Frio Geological formation. Frio wells typically enjoy low finding costs and have a high degree of success. The gas targets occur at shallower depths, and have minimal completion costs.
The Frio in the area of Southwest Mississippi and North-Central
is a very complex series of sand representing marine transgressions
regression and therefore the presence of varying depositional
Structurally, the Frio gas accumulations are a function
of local structure
and/or structural nose formed as a result of differential
features. However, stratigraphic termination (i.e. up dip
shales outs of
sands) also plays a role in most Frio accumulations. The
so complex that seismic HCL evaluations are the only viable
tool for the Frio prospect.