Marathon Oil to Begin Drilling on Wentworth Energy Mineral Block
Wentworth Energy, Inc. reported that Marathon Oil Company is preparing to drill its first deep gas test well on the Company’s 27,557-acre mineral block in East Texas. Marathon has been reviewing 3D seismic over the past several months and is ready to start their first test well that will target the 14,000-16,000-foot Bossier/Cotton Valley trend on the mineral block located near Fairfield and Palestine, Texas.
"We expect drilling to start on the initial Marathon test well in the first quarter of 2008," said David Steward, Wentworth Energy's Chief Executive Officer and Chairman. "Marathon has contracted the rig it intends to use from a nearby project to drill the Studdard Steward M-1 well, and has indicated drilling will commence once that project is complete and the rig is in place on the Wentworth acreage."
In November 2006, Marathon Oil secured an exclusive three-year lease on approximately 9,000 acres of the Company’s mineral block within the East Texas Deep Bossier/Cotton Valley Trend. The three-year lease and a Joint Operating Agreement with Wentworth Energy give Marathon the right to drill deep gas wells on the minerals and the opportunity to partner with Wentworth Energy on drilling upper zones (above 8,500 feet) on a 50/50 basis.
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