The directors and management of Strata-X Energy Ltd. (Toronto Venture: SXE) have announced that the company has started operations on the Burkett #5-34HOR horizontal well on its Vail Oil Project. The Burkett 5-34HOR horizontal well is the first appraisal well in the Vail Oil Project. The company owns a 100% working interest in the well and 48,000 net acres in the project overall.
The Burkett 5-34HOR well is to be drilled in Clay County, Ill., west of the town of Xenia, Ill.. The company executed a drilling contract with Les Wilson Inc. for the Burkett 5-34HOR well which is expected to test the Devonian Lingle formation, a dolomitic reservoir which lies directly below the hydrocarbon rich New Albany shale.
The permit issued by the Illinois Department of Natural Resources (IDNR) for the drilling of the well authorizes the following (approximate) drilling parameters: a true vertical depth of 4,500ft, a true measured depth of 9,300ft and a horizontal leg length of 4,300ft. Strata-X anticipates drilling the Burkett 5-34HOR well in two stages. First, the company plans to drill a vertical hole to the top of the target formation and then core approximately 60 feet of the formation. Once this first stage has been completed, the company intends to plug back the vertical section of the well and drill the horizontal leg. The information gained from the analysis of the core and well logging is expected to assist the company in designing the most efficient completion method for the well. The company anticipates drilling operations to take approximately 40 days.
Strata-X is a Denver-based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Colorado, Texas, Illinois and Western Australia and production and development opportunities in California. Strata-X has 123,752,453 common shares outstanding.
Recommended Reading
Shell, Canadian Natural Resources to Swap Oil Sands, CCS Interests
2025-01-30 - In a swap transaction, Canadian Natural Resources Ltd. will own 100% interest in the Athabasca Oil Sands Project after acquiring a 10% interest from Shell Canada Ltd. in exchange for a 10% interest in carbon capture and storage facilities.
Elk Range Acquires Permian, Eagle Ford Minerals and Royalties
2025-01-29 - Elk Range Royalties is purchasing the mineral and royalty interests of Newton Financial Corp., Concord Oil Co. and Mission Oil Co.
After Big, Oily M&A Year, Upstream E&Ps, Majors May Chase Gas Deals
2025-01-29 - Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
Chevron JV Plans 4-GW Project to Fulfill US Data Center Power Needs
2025-01-28 - Chevron U.S.A. Inc., Engine No. 1 and GE Vernova will develop the natural gas-fired power plants co-located with data centers amid President Trump’s push for AI dominance.
Oxy CEO Hollub Sees More Consolidation Coming in Permian, Globally
2024-11-21 - Occidental Petroleum CEO Vicki Hollub names emissions and water management as top challenges for Permian operators and an incentive for growth.