After the cement fully sets, and we ensure the integrity of the casing job, we will proceed to drill deeper toward our next logging and casing point
The well was then drilled down to the casing point
of 3756m measured depth with the continued presence of these elevated hydrocarbon gases.
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
Caza has a 25% working interest before casing point
and a 35.
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
The 311mm (12 &") hole has been successfully drilled to the casing point
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
In conjunction, the company announced a participation agreement with Houston Energy to purchase a 10% after casing point
working interest in initial test wells in up to five prospect areas in the Permian Basin in west Texas.
The firm expects to acquire an initial working interest of 80 percent in drilling the first well to casing point
and a net revenue interest of 55 percent.