Subject to confirmation of contractually-required expenditures, the partner will have earned a 60% interest in the Lorraine and Utica Shale sections of the 55,240 acre-sized Junex North Richelieu Permit Block.
The St-Denis No-1 exploration well was drilled vertically to the base of the Utica Shale to establish stratigraphic control to guide the follow-up drilling and completion of a horizontal wellbore in the future.
A number of core samples and other wellbore information obtained from the Utica Shales in this well will be subsequently analyzed in order to lead Junex through the next exploration phase, the company said.
After Junex’s partner has fulfilled the conditions to earn into the North Richelieu Permit Block, Junex will retain the 40% balance of the working interest in the Shale section of the lands along with a 100% working interest in other geological formations, including the Trenton/Black River.
According to Junex, the North Richelieu permits are situated in part in the central Deep Utica Shale Gas Fairway where much of industry’s drilling activity has taken place over the past two years.
Junex holds exploration rights on more than six million acres of land located in the Appalachian basin in the province of Quebec.
