Independence Energy Corp. has received confirmation that the contracted completion rig for the Taylor-MEI #113 well has been booked for delivery to the proposed well site in Coleman County, Texas. The project operator has also reported that they currently anticipate the arrival of the rig on Friday, June 15, 2012, weather permitting. The Company expects that completion work will begin immediately following rig setup and testing.
The Taylor-MEI #113 is part of a two well re-completion program targeting potential oil bearing formations shown to be productive in the area. The two wells, the Taylor-MEI #113 and the Taylor-MEI #115, were originally drilled to, and completed in, the Ellenburger formation (4,400 feet) and are currently in the re-completion stage to the Gardner Sandstone formation (3,700 feet). The Taylor-MEI #113 is projected to take approximately 10 days to complete.