Georgia: Two well drilling program planned

By OGJ editors
HOUSTON, Jan. 10 – Red Emperor Resources NL signed a heads of agreement to acquire 10% interest each from Range Resources Ltd., Perth, and Strait Oil & Gas UK Ltd. in the Via and VIb onshore blocks in Georgia.

Subject to regulatory approvals by mid-February 2011 and other conditions, Red Emperor would contribute 40% of the drilling costs up to $5.6 million of a gross $14 million, for a planned two-well program. Range Resources and Strait Oil & Gas each retains 40% interest.

An initial analysis of 24 areas identified 11 structures suitable for oil in place estimates and key targets for future drilling. Two are deeper than 2,500 m and the rest are at 600-2,500 m. The blocks also have gas and coalbed methane potential.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...