Verdisys, Inc. has been awarded a contract and commenced work on re-drilling part of the Monroe Gas Field in Louisiana for Energy 2000 NGC, Inc. The Monroe Field has produced more than six trillion cubic feet of gas since its discovery back in 1919. Formerly the largest Natural Gas Field in the world back in the 1970s the field has largely been depleted of Gas Reserves available to traditional drilling methods. Verdisys' lateral drilling technology is being applied to 45 of the existing wells to access new and existing deposits to substantially reinvigorate the gas flow from the wells. The expectation is to access new and existing deposits in the Gas Lock, A.U. Chalk and Harrell Sands zones.
Drilling operations commenced this week.
"The Monroe Field presents a unique opportunity to instantly demonstrate our remarkable lateral drilling technology," said Dan Williams, President and Chief Executive Officer of Verdisys, Inc. "Here you have a piece of American Oil and Gas history that we can re-vitalize and pull out of the ground gas previously inaccessible by normal cost effective means."
James Spiller, Consulting Geologist, said, "The Verdisys technology will be key to unlocking strategic areas within the Monroe Gas Field and bringing the field back to sizable commercial production."