MGM Energy Corp. declared early results from its East MacKay I-78 well drilled this winter to test the Canol shale formation on MGM Energy's EL 466B in the Central Mackenzie Valley.

The East MacKay I-78 well, a vertical well, spud January 27, 2013 and reached target depth of 6,565 feet (2,001 meters) Feb. 15. Following logging, casing and the running of the completion string, the drilling rig was released Feb. 25. Drilling operations proceeded without incident and all formations were present as expected. In particular, the primary target, the Canol shale, was found between 5,968 feet and 6,296 feet (1,819 meters and 1,919 meters), and the Bluefish formation, the secondary target, was found between 6,352 and 6,421 feet (1,936 meters and 1,957 meters). Cores were taken within the Canol and Bluefish formations, as well as the upper Hume formation, immediately below the Bluefish. A full suite of electric logs was run once drilling was completed.

Tags: MGM Energy