Drilling has recommenced to the target depth of 16,000ft, which will take approximately fifteen days. Preliminary drilling and log data indicate hydrocarbon bearing sands in a shallower horizon that will require further evaluation.
Michael Ford, CEO of Caza, said: “We are pleased that drilling on the OB Ranch #1 well is progressing as planned and anticipate reaching the target depth within approximately fifteen days.”
Caza is engaged in the acquisition, exploration, development and production of hydrocarbons in the Texas Gulf Coast (on-shore), south Louisiana, southeast New Mexico and the Permian Basin of West Texas regions of the US through its subsidiary, Caza Petroleum.
