FX Energy reports results of Plawce-2 well test in Poland

FX Energy Inc.

FX Energy Inc. (NASDAQ: FXEN) has reported that testing of three fracked Rotliegend intervals in the Plawce-2 well has been completed. PGNiG SA, the national oil company in Poland, is the operator and owns 51% of the working interest in the Fences concession, which covers 850,000 acres or 1,647 square kilometers; FX Energy owns 49% of the working interest.

The well’s two lower zones produced only formation water. The top interval, where log interpretation indicated more than 60 meters of gas-saturated sandstone at the top of the Rotliegend formation, flowed only noncommercial levels of gas, along with formation water. 

"We are analyzing the test results and other data to see if any further activities might be warranted in the tight gas areas of the Fences concession," said Andy Pierce, FX Energy’s vice president of Operations, "but these test results are disappointing to FX Energy and to our partner, PGNiG SA."

FX Energy is an independent oil and gas exploration and production company with production in the US and Poland. The company's main exploration and production activity is focused on Poland's Permian Basin where the gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore England.

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