Additionally, Progas is considering an offset well
to the Garcia #3.
While the Company initially planned on drilling only one offset well
, positive results from the Mitchell Lease prompted the Company to take action to increase production quickly and move the company toward cash flow positive in Q3 2013.
nd] offset well
targets the Mannville light oil in Alberta, Canada.
Plans for drilling an offset well
, the Hardy S 1A4-16-4B4-9-4-21W2, are proceeding with a spud date targeted for May, 2011.
also has a producing gas well that is an offset well
to the Waters #3-328.
In addition there are three offset well
sites on the Titan Lease (new drills) which may be required to have locations determined by a small seismic program.
4% net revenue interest ('NRI') in the drilling of two offset wells
on the field targeting the Frio sands: the Lutcher Moore #21 and Lutcher Moore #22.
The company plans to drill the Z-1 well close to the location of previous offset wells
and in the vicinity of known producers.
Patriot Energy anticipates additional offset wells
once production is established.
In one Eastern Siberia field, Viking Bits have increased average rates of penetration by 25%, compared to nearby offset wells
with similar profiles.
to the north of the Mollhagen #8 drilled in recent years have cumulated production in excess of 75,000 barrels of oil per well.
With today's oil prices this could be a very profitable oil well along with the potential of several offset wells
in the future and the possibility of up to 20 wells on this lease.