Gastar Exploration Ltd. (NYSE: GST) has reported that the Belin #2 well was successfully drilled to a depth of 19,650 feet and encountered approximately 130 net feet of pay in the lower Bossier formation within five separate sand intervals.
Gastar plans to complete the well in two initial zones and, depending upon the availability of frac stimulation services, expects the first of these initial completions to be on-line by the end of April.
The Belin #2 well is projected to cost approximately $11.0 million including the cost of the initial completions. Gastar has a 67% before payout working interest (approximately 50% before payout net revenue interest) in the Belin #2 well.
"The Belin #2 well was drilled in a previously non-producing fault block on the Hilltop structure and confirms the presence of high-quality reservoirs in this downthrown fault block," said J. Russell Porter, Gastar’s president and chief executive officer. "As previously announced, we will drill the Belin #3 well while continuing to focus on the exploitation of the shallower Eaglebine and Glen Rose oil formations on this same acreage block."
Recommended Reading
E&P Highlights: Aug. 26, 2024
2024-08-26 - Here’s a roundup of the latest E&P headlines, with Ovintiv considering selling its Uinta assets and drilling operations beginning at the Anchois project offshore Morocco.
OMV Makes Gas Discovery in Norwegian Sea
2024-08-26 - OMV and partners Vår Energi and INPEX Idemitsu discovered gas located around 65 km southwest of the Aasta Hansteen field and 310 km off the Norwegian coast.
E&P Highlights: Sep. 2, 2024
2024-09-03 - Here's a roundup of the latest E&P headlines, with Valeura increasing production at their Nong Yao C development and Oceaneering securing several contracts in the U.K. North Sea.
Breakthroughs in the Energy Industry’s Contact Sport, Geophysics
2024-09-05 - At the 2024 IMAGE Conference, Shell’s Bill Langin showcased how industry advances in seismic technology has unlocked key areas in the Gulf of Mexico.
Chevron Boosts Oil, NatGas Recovery in Gulf of Mexico
2024-09-03 - Chevron’s Jack/St. Malo and Tahiti facilities have produced 400 MMboe and 500 MMboe, respectively.