Especially the "discovery of a new lower Wolfcamp interval... has shown significant potential"...
I am the only one that can see and read this?
Yes it is going to take longer but the rewards will be even better still... there should be another announcement from PB soon, but this thing is going to evolve - not come screaming in overnight.
SRH-1 Well, our first well drilled in the Permian project continues to serve as our “test hole” as we investigate various completion techniques, address production challenges and extensively test several of the Wolfcamp intervals. One result of our testing program thus far has been the discovery of a new productive lower Wolfcamp interval. None of the surrounding wells drilled recently on adjacent acreage had drilled deep enough or tested this interval. This lower Wolfcamp interval has shown significant potential for horizontal drilling and we are currently evaluating the potential for its own horizontal drilling program to go along with the Upper and Middle Wolfcamp sections that are being horizontally drilled on the surrounding acreage. Production challenges including gas locking, parafins and high bacteria levels are all being successfully addressed in the SRH-1 well with different combinations of production equipment and chemicals.
GGP Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
