Mainland Resources has issued an AFE (Authority for Expenditure) for the Burkley-Phillips No. 1 well to be drilled in Jefferson County, Mississippi.
Mainland as operator, intends to drill the Burkley-Phillips No. 1 well to the Haynesville Shale Formation on the Buena Vista project in Jefferson County, Mississippi. The well is expected to be drilled to a total depth of 22,000 feet or a depth sufficient to evaluate the Haynesville Shale Formation.
The AFE estimates the drilling cost to be approximately US $8,650,000 and completion cost to be approximately US $4,900,000 for a total completed well cost of approximately US $13,550,000.
The objective of drilling of the Burkley-Phillips No. 1 well is to evaluate the Haynesville Shale Formation as well as other potential shallower oil and gas bearing formations. The drilling location was developed by the reprocessing of seismic data and well log information obtained from a well drilled on the site in the 1980s.
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