Norse reported that the 3D Seismic acquisition is progressing on schedule for summer completion across 60 square miles, approximately 38,000 acres of our 180,000 acres in New York state. We have received the first processed data this week.
The early results have documented excellent quality seismic data. The geological feature tested by our most successful Herkimer well is easily identifiable and clearly differentiated from a suboptimal well which appears to have narrowly missed its intended drilling target.
These data further supports our 500 Bcf full field Herkimer development model.
While very important for our Herkimer play, these data will also play an important role in optimizing our shale development. In addition, these early data have highlight prospectively within multiple other formations on our acreage, such as the Trenton Black River and the Oneida formations.
"Full illumination of the subsurface with this state of the art 3D seismic technology, provides confidence that our drilling program will meet our production goal of 18 000 – 24 000 Mcf/day of gross production by year end," said Mark Dice, President and Chief Operating officer.
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