10th May 2018 14:20
LONDON (Alliance News) - Nostra Terra Oil & Gas Co PLC said Thursday it has successfully drilled and logged its Permian Basin G6 well in Mitchell County, Texas.
The well was drilled to a total depth of 3,206 feet, encountering the Upper San Andres, Lower San Andres, Glorietta, Upper Clear Fork, Middle Clear Fork and Lower Clear Fork formations as expected.
The well intersected more than 103 feet of gross oil pay in aggregate. Drilling was successfully completed on time and budget, according to Nostra Terra.
The company said the production casing has been run and the well cemented. Nostra Terra will proceed with completion and tie-in operations, following which it expects to put the well into "continuous production".
The company has a 53.25% working interest in the G6 well.
Chief Executive Officer Matt Lofgran said: "We're excited to see another well successfully drilled and logged following the Twin Well, again encountering all of the oil-bearing formations that are productive in the area.
"We look forward to completing the G6 well and are now moving quickly to drill the next well in that area, in which Nostra Terra owns a larger working interest."
Shares in Nostra Terra were down 2.4% at 4.98 pence each Thursday afternoon.
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