The exploration well, situated on the Northern flank of the Allen Dome salt dome, is located updip to #4c well which showed good oil shows. JT Reese #S1 is being drilled to target the proven oil-producing zone at 1,400ft.
Houston-based HTK Consultants and Rotary Exploration are drilling the well, which is expected to reach its planned pre-drill total depth in four to five days.
In addition, the drilling rig contract to spud another oil exploration well JT Reese #S2 has also arrived at the site.
JT Reese #S2 well will be drilled to a pre-drill total depth of 5,200ft, targeting five separate horizons at a location on the Northern flank of the Allen Dome salt dome.
The company said the each of the sands has an estimated potential to produce about 50 barrels of oil a day if commercial quantities are found. Drilling of the second well to its total depth may take about seven to eight days of time.
Titan Energy US managing partner John McKnight said that the company is on the verge of drilling two exploration wells at the same time.
"If we have drilling success here it will provide the Company with significant momentum with a large number of potential, similar, follow up targets on both the Northern and Southern flanks of this proven, oil producing salt dome," added McKnight.
