LONDON (Thomson Financial) - AIM-listed Irvine Energy Plc. said it has
spudded the Rock 1-5 well in Butler County, Kansas, targeting high-quality oil
from the Arbuckle formation at approximately 3,500 feet.
Drilling started on Tuesday and is expected to take about a fortnight, the
company said.
Irvine said this will be the first of four wells to be drilled on the Rock
3D acreage, with all four targeting oil from the Arbuckle and Mississippian
formations at a depth of 3,000-3,500 feet.
The company added it has also purchased an adjacent lease containing a salt
water disposal well that will be used to re-inject produced formation water, and
allow for maximum oil production from Rock 1-5 while minimizing operational
costs.
Managing director Aaron Close said, "Over the next 18 months the company
intends to drill a minimum of 12 wells as we look to ramp up production levels
through increasing the number of wells producing across our portfolio".
TFN.newsdesk@thomsonreuters.com
ran/ejp
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