In a statement yesterday, Fall River said the West Florence-1 exploration well is primarily targeting the J Sandstone of the Dakota group at a depth of about 1800m, with additional targets in the Codell Sandstone, Niobrara Formation and the Pierre Formation at 1500-2100m.
The wildcat is the first well to spud in the West Florence oil and gas project and its 12,000 acres (4856.2 hectares) of associated leasehold, located in the Florence Sub-basin of the Denver Basin, about 100km south of Denver.
The project area is to the west of the Florence oil field, which produced about 15 million barrels of oil from fractured shales of the Pierre Formation in the 1940s.
Fall River said the West Florence play was estimated to contain a potential 100-200 billion cubic feet of recoverable gas in the Muddy J sandstone, as well as 5 million barrels of recoverable oil in each of the Codell Sandstone, Niobrara Formation and the Pierre Formation.
The West Florence project is operated by Denver-based Mountain Petroleum in partnership with VicPet (25%), Fall River (15%) and Adelaide Energy (10%).
