Stallion Sets Next Three-well Drilling Program
The Stallion Group said Tuesday that the next three-well drilling locations in Mississippi have been set. The drill locations are known as: The second Red Bug, the second Tecumseh closure, and the second Buffalo River wells. Drilling is expected to commence within the next 10 days and all three wells should be drilled and completed by the end of May 2007.
This three-well drilling program is intended to target Frio gas formations. Frio formations are generally concluded to have reserve potential of 0.3 to 1 BCF (billion cubic feet) of gas per well. However, a well with multiple productive sands could increase reserves by as much as 2-3 times this potential. These types of reserves, in the 2,500 to 4,000 feet range, are impressive with regard to inexpensive drilling and completion cost.
Stallion participated in drilling four wells in the first 3 months of 2007. The wells drilled to date and these next three wells form a part of the Company's 50-well drill program within the Area of Mutual Interest (AMI) in Mississippi.
The Company will be announcing its summer 2007 drilling program within the next 6 weeks.
In Management's opinion, the Company's immediate access to pipelines and the recent strengthening in the Natural Gas price supports this aggressive drilling program. Furthermore, Management is pleased with the successful results of its 1st Quarter, 2007 drilling program and is now focused on its 2nd and 3rd Quarter 2007 programs.
The Company intends to announce all drilling results as soon as they become available.
The Stallion Group is an independent oil and gas company focused on developing proven energy-rich areas of North America.
- Stallion Announces New Discovery Well in California (Feb 22)
- Stallion to Participate in New Oil Discovery in Mississippi (Feb 08)
- Stallion Begins Summer Drilling Program (Aug 10)