Corridor Completes Wells in New Brunswick, Prince Edward Island
Corridor Resources Inc. reported that drilling at the McCully I-47 well has been completed in the horizontal leg of the well at a measured total depth of 3693 meters in the "E" sand of the Hiram Brook formation. Corridor expects to initiate fracture operations at this well later this summer using the Packers Plus multi-stage fraccing technology. Corridor holds a 100% working interest in the I-47 well.
The Nabors Rig #86 is finishing completion operations at the well prior to relocating to drill the South Branch G-36 exploration well, commencing later this month. The South Branch well is an important step-out from the McCully Field and is designed to evaluate the natural gas potential of the basin margin to the southeast of the Field.
The McCully N-66 horizontal well is drilling ahead at a measured depth of 2660 meters as it prepares to drill the horizontal leg of the well through the "A" sand in the heart of the most productive part of the McCully Field. Corridor plans to undertake a fracturing program at this well later this summer using the Packers Plus multi-stage fraccing technology. Corridor and Potash Corporation of Saskatchewan each hold a 50% working interest in the N-66 well.
In other completion activities, Corridor has completed fracturing and initial testing operations at the McCully P-67 and C-57 wells. Three fracs have been completed in the P-67 well and the well has been temporarily tied into the gas gathering system for long-term testing and production. After 12 days of continuous flow the well was producing at a rate of 3.7 mmscf/day prior to a short-term shut-in of the field due to maintenance operations on M&NP. Two fracs have been completed in the McCully C-57 well and frac fluids are being recovered before a stabilized production rate can be reported for this well. Corridor and Potash Corporation of Saskatchewan each hold a 50% working interest in the P-67 and C-57 wells.
Well fracturing, completion and testing activities at McCully are also scheduled for several other wells this summer and fall, and will include operations at the McCully I-47, N-66, J-47, K-48 and C-48 wells. These wells are planned to be tied into the McCully gas gathering system during the late summer and early fall. Fracturing and testing operations are also planned for a well to be drilled at C-29 and for one of the three vertical shale gas wells to be drilled this fall at Elgin.
In other activities, Corridor announced that it has completed the fracturing of two intervals in the Green Gables #3 well and has suspended operations there to evaluate results. Corridor has shut the well in to further monitor pressure build-ups and well-bore temperatures and will report on results by the end of August. Under the terms of an agreement between Corridor and PetroWorth Resources Inc. announced on July 30, 2008, PetroWorth is financing the costs of the subject fracturing and testing operations to earn a 10% working interest in the Green Gables licence 04-03. Corridor has until September 5, 2008 to elect to locate and drill a total of two exploration wells on lands comprising PetroWorth licenses 03-01, 03-02, 04-05, 04-06 and 04-07 prior to July 31st, 2009 to earn a 50% working interest in these licenses.
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