Fraccing and testing operations are being conducted on a total of seven wells during August and September, and Corridor intends to continue to provide updates on the results of these activities as they proceed. Corridor considers the initial three wells (M-66, K-66 and J-66) to be the most productive of the seven wells to be stimulated and tested this summer, based on log evaluations and sidewall core analyses.
Corridor also announced that the McCully E-57 well has been drilled to a total depth of 2673 meters. The well encountered approximately 40 meters of indicated net gas pay thickness in the Hiram Brook formation, including 18 meters in the "A" sand and the remainder in the "B", "C" and "D" sands. The Nabors #4 drilling rig is being relocated to drill the I-67 well from the same surface drill pad. The I-67 well is designed to intersect the Hiram Brook Formation at a location approximately 700 meters WSW of the surface location. The E-57 well is the 18th well drilled to date in the McCully field that has encountered natural gas bearing sands in the Hiram Brook Formation. The well has been logged and cased to total depth in preparation for frac stimulation operations planned to be conducted at the well in September.
On Friday, August 18, Corridor received environmental approval from the New Brunswick Minister of Environment with respect to Corridor's Stage 2 McCully Development Plan, subject to certain conditions. On Wednesday, August 23, the New Brunswick Public Utilities Board (NBPUB) held a pre-hearing conference in Sussex to establish procedures regarding the approval process for the midstream facilities. As a result of that meeting, the NBPUB established public hearing dates of September 27 and 28 to consider issues relating to approval of Corridor's development plans. Construction of the project facilities can commence only when the NBPUB has issued a construction permit.
Corridor is a junior oil and gas exploration and production company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward Island and Quebec, and offshore in the Gulf of St. Lawrence.
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