Tanager Energy announced the completion of drilling activities, logging and open hole testing of its Raptor B #1 appraisal well.
Tanager confirms that its Raptor B #1 well has been drilled to a total measured depth of 3,100 feet and will now be completed. Data from electronic logs and sidewall cores confirm the presence of hydrocarbons in the primary Yegua objective, which is similar in porosity, permeability and thickness to the Raptor A #1. A workover rig will be contracted to undertake completion and flow testing operations within the next few weeks, weather permitting. A further update will be made once well testing operations have been completed.
Tom M. Crain, Jr., interim Chairman and CEO of Tanager, stated, "We successfully concluded the drilling of our Raptor B #1 appraisal well, drilling it faster and more economically than our initial well. The Raptor B #1 confirms that our 644 acre lease adjacent to Raptor A lease is productive and will also provide us meaningful data to assess reserve EUR (economic ultimate recovery) volumes and PV (present value) of not only this particular Yegua accumulation but also similar prospects within the project area. We will focus our near term efforts on getting the initial two wells on line and generating cash flow for Tanager."