“This prospect will initially be drilled vertically to a depth of approximately 5,500 feet and if the target formation is gas-bearing, the well will be plugged back and drilled horizontally for about 2,000 feet through the interval,” said Antares managing director Howard McLaughlin.
“This horizontal extension will expose a great deal of the formation in the section to the well bore, potentially increasing the initial gas flow substantially. Apart from this primary zone, there are multiple secondary targets.”
If the first well is successful, another will be drilled in the same prospect immediately afterwards and Antares will try to acquire other pieces of adjacent lad to test the viability of the play, McLaughlin said.
“Productive wells in the region have reserve potential of between 3 and 8 BCF and flow rates of up to 10 MMcf/d, but commonly flow at one to two million cubic feet per day on vertical tests. Horizontal wells could be substantially better producers,” he said.
Meanwhile, across the state line in Texas, Antares has entered two farm-in agreements, acquiring a 25% interest in the Porters Creek prospect and a 20% interest in the Wilbeck prospect, both in Wharton County, Texas.
The Porters Creek prospect is defined by 3D seismic. It has an estimated reserve potential of between 11–22 BCF of gas and up to 1.5 million bbls of oil/condensate.
A well in this prospect will be operated by Mueller Exploration and will be drilled in early January.
The Wilbeck prospect is also defined by 3D seismic and has reserves of 5-17 BCF of gas and 50,000 to 170,000 bbls of oil, according to Antares. Drilling is planned for late December or early January.
Antares will operate the well and hold about 85% working interest in the well and the acreage. Its partner, Mueller Exploration will hold the balance of the working interest and will also act as contract driller for the prospect.
At Amity Oil’s annual general meeting on 23 November shareholders voted to change the company’s name to Antares Energy Limited, the name of its US subsidiary, to better reflect the growing importance of its US interests.
As of the opening of trading today the name Amity Oil Limited, trading under AYO, is no longer applicable. It has been replaced by Antares Energy Limited, trading under code AZZ.
