HYD Resources Plans 75 Well Program in LaSalle Parish, Louisiana
Hyperdynamics Corporation's wholly owned subsidiary, HYD Resources Corp., announced a program to drill and complete 75 wells on its leases in LaSalle Parish by the end of its fiscal 3rd quarter next year.
The Company has drilled twelve wells to date. All of the wells drilled have encountered multiple pay zones and will all be completed and produced. Construction of production infrastructure is underway so that production can be maximized. HYD Resources plans are to develop and produce low volume shallow production wells that they can drill, develop and operate with our own in house crews and equipment.
Mr. Kent Watts, Chairman and CEO of Hyperdynamics, stated, "We
have been encouraged from the report of 1.4 million barrels in place
and from finding oil and gas in every well that we have drilled so far
in LaSalle Parish. In addition to this, our geologists are updating
their previous study and we are expecting at least another four new
zones to be added to their study. As a result, we are now upping our
program to drill at least 75 wells in this area."
- Hyperdyamics Reveals Impasse in Plans to Drill Exploration Block Off Guinea (Jan 06)
- Hyperdynamics Says Tullow Claims Force Majeure in Offshore Guinea (Mar 12)
- Tullow Declares Force Majeure On Guinea Project After Partner Probe (Mar 12)