The well intersected a thick Forbes formation confirming the targets that were indicated on Royale Energy’s 3-D seismic data.
Log analysis indicates the presence of over 20ft of natural gas charged high porosity sand reservoir which correlates with the strong seismic amplitude response.
The drilling rig will be moving directly to the Goddard #2 location, and this offsets the Goddard 7-1 that is currently producing 5,000mcf per day.
The company said that the price it is currently receiving has climbed to $4.55 per mcf, and it plans to drill three more wells by the end of the year.
Royale Energy is engaged in development, acquisition, exploration and production of natural gas and oil in California, Texas and the Rocky Mountains.
