The 311mm (12 &") hole has been successfully drilled to the casing point
The Company has drilled a well in the Texas Yegua trend to the intermediate casing point
drilled to the third casing point
at 6,612 feet measured depth
As a result of the 13 3/8" casing being set deeper to isolate shallower sandstones and a fault intersection, it is now possible to safely drill the well deeper to a next casing point
Following the setting of 20" surface casing at about 100 meters, the well plan called for the drilling of an 8-1/2" pilot hole down to the 13-3/8" intermediate casing point
At casing point
, Incremental and TransAtlantic will each elect whether to proceed to completion and will each bear their proportionate share of completion and infrastructure costs.
An additional well has been suspended at the intermediate casing point
and will be completed next year.
Abraxas owns a 20% working interest in this well before casing point
and a 40% working interest after casing point
acquired on reaching the third casing point
at approximately 5,900 feet
Well number 4 of the 30 at Goudron, GY-667, is drilling ahead at a depth of 1,530 ft in the Goudron Sandstones towards the first planned casing point
at about 1,900 ft.
To date the well has intersected two potential reservoir zones, which will be evaluated by wireline logging prior to setting casing at the 9 5/8" casing point
That well is now at a depth of 1,150ft and is drilling towards the next casing point
expected at 1,700ft.