17th May 2016 08:55
LONDON (Alliance News) - Pantheon Resources PLC on Tuesday said the VOBM 2H well at the Polk County project in east Texas has been spud.
The oil and gas company, which has a 50% working interest in several projects in Polk and Tyler Counties in Texas, said VOBM 2H is the first well of the multi-well programme on the project and follows on from two successful wells drilled in 2015.
Drilling operations are anticipated to take around 55 to 60 days, and Pantheon said it will publish results from the well when drilling and testing operations are completed.
Operations are also underway for a planned fracture stimulation procedure on the VOS 1 well, and talks are ongoing on the processing and transportation of natural gas from the Polk County field, Pantheon said.
Pantheon shares were down 1.7% to 144.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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