1st Jun 2016 07:00
LONDON (Alliance News) - Pantheon Resources PLC Wednesday warned its plans to complete the fracture stimulation procedure on the VOS-1 well in the US have been hit by a "short delay", but said it expects operations to begin "shortly".
Pantheon is waiting for the final permit from authorities that is required before it can begin stimulating the VOS-1 well, which lies in Tyler County onshore East Texas in the US. The company said the permit, coupled with poor weather conditions, has caused the minor delay.
"The company anticipates the fracture stimulation to start shortly with results announced on completion," said Pantheon.
The company is hoping the fracture stimulation procedure will materially improve production from the well, but has previously warned that weather conditions posed a threat to its planned timetable.
By Joshua Warner; [email protected]; @JoshAlliance
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