The well is the second to be drilled in the current four-well drilling program on the property. The operator anticipates drilling this well will confirm the results of the 3D seismic data shot in 2007 and reviewed since the completion of the Scanio-Sheldon Well-8 drilled in late 2007.
Portrush stated that the reworked seismic clearly identifies the intended payzones expected to be penetrated by this well. A successful well will then be followed by at least two additional wells.
The Scanio-Sheldon Well-8 well was placed on production in early 2008 at an initial rate of half a million cubic feet of gas a day and approximately 75 barrels of oil a day. Gas production has since been increased to 900,000 cubic feet of gas a day.
The Mission River lease is operated by McAlester and is located at the south end of the town of Refugio in Refugio County, Texas. The field has multiple pays at depths ranging from 2,000 to 8,500 feet. Portrush has a 10% working interest in the field. To date eight wells have been drilled and all have been placed on production.
