Mr. Robert A. Kadane, President of KFG Resources announced the Company's subsidiary, KFG Petroleum Corporation of Natchez, Mississippi, has run 4,137 feet of production casing in its Spring Hill No. 5 Well, Fayette Field, Jefferson County, Mississippi. The Spring Hill No. 5, a south offset to the Company's Spring Hill No. 1 Well, is structurally flat to the No. 1 Well and has all three of the production zones found in the No. 1 Well and in the Company's second well, the Spring Hill No. 2, also in the Fayette Field. KFG Petroleum will attempt to complete and production test the No. 5 well in the '4,600 Foot Sand' at a depth of 3,930 feet. If successful, it is anticipated that the No. 5 well will be producing pipeline oil by early April, 2010. Mr. Kadane noted that the No. 1 and No. 2 wells will continue to produce a total between 60 and 70 bopd.
KFG Petroleum Corporation has approximately 4,100 acres of leases in the area and owns a 100% working interest (79.16% net) in the Spring Hill wells including this offset location No. 5 reverting to 74.9% working interest (59.4% interest) after payout of all drilling, seismic, land, exploration, development, taxes and operating expenses.
Most Popular Articles
From the Career Center
Jobs that may interest you