New Standard Energy Limited advise that the Company's first well in the Eagle Ford shale (EFS), Peeler Ranch-5H, has successfully reached target depth and the process of running in casing has commenced.

As previously advised, upon completion of the casing the rig will be skidded across the pad to commence drilling of the Peeler Ranch-6H well during this week.

New Standard Energy Managing Director Phil Thick said while drilling of the first New Standard Atascosa Project well had taken longer than expected, tight control of costs would ensure the well remained within budget and the additional drilling time would have no impact on the timeline to production.

Tags: New Standard Energy