12th Apr 2023 12:20
Pennpetro Energy PLC - Oil and gas company focusing on production and development in Gonzales County, Texas - Says that the Whistling Straits 5H well in the Peach Creek Oil Field, Gonzales County, Texas, has been drilled to 10,195 feet measured depth, with a 7,632.22 feet true vertical depth. The horizontal well will now be completed as a producer with over 2,500 feet of open hole within the Austin Chalk interval.
Chief Executive Officer Tom Evans says: "We are pleased to have hit our target objective and steered the drill bit through the heart of the seismic anomaly which we interpret as a microfracture swarm within the Upper Austin Chalk. The forward plan is to install test facilities and then complete the well imminently."
Current stock price: 3.24 pence, up 2.9% in London on Wednesday at noon
12 month change: down 88%
By Holly Beveridge, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Pennpetro Energy