The Biamante #1 is now completed and has been put into production. Production for the first 24 hours was set at 380 mcf gas per day. However, this rate will be monitored over the next several days to determine a stable flow rate.
The 25 well program is scheduled for completion to full production in 2009. Production estimates based on recent engineering reports predict an average of 200 mcf gas per well per day as a conservative target.
"This is another exciting program for Powder River Basin Gas Corp., particularly in that it is located in an area we are already familiar and have had success with. I look forward to our continued efforts to move the Company to the next level," stated Powder River Basin Gas Corp. CEO Brian Fox.
Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.
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