But three more potential gas zones higher in the well remain to be tested.
“These upper zones are known to be gas-bearing in the region and may prove to be gas bearing in this well,” Antares managing director Howard McLaughlin said.
“A lot of US gas wells have multiple zones, so you can often find enough gas to pay back the well even if the primary zone is dry,” he told EnergyReview.net.
“By design, our net financial exposure to this well is not great and we remain confident that the strategy of participating in higher risk/higher reward play types in south Texas offers great opportunity for Antares Energy.”
Wilbeck-1 is an exploration well in which Antares has a 30% interest. The well is operated by Crawford Energy of Houston, Texas.
