Meanwhile, the company's operations at Red Deer are proceeding as planned, with the well reaching its intermediate casing point
and preparations underway to drill the next section.
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
Activity: Drilling continues to next planned casing point
above the Tyonek Formation at approximately 9,500' MD / 9,300' TVD.
Caza has a 25% working interest before casing point
and a 35.94% working interest after casing point
in the Marian Baker No 1 well with an approximate net revenue interest of 26.24%.
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.
"But we have got to build on a solid foundation and Saturday was a casing point
because we were a goal down after a few minutes.
An additional well has been suspended at the intermediate casing point
and will be completed next year.
Elsewhere in the permit, ASB-1X is at 3,745 metres and directionally drilling ahead to the 9 5/8" casing point
. This well is testing a prospect that has Late Cretaceous and Jurassic exploration targets.
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.