US-focussed oil and gas producer Target Energy Limited provide an update on its Fairway Project in West Texas.
Wagga Wagga #1 (Final Report)
Wagga Wagga #1 has reached Total Depth at 3,057m (10,030 ft). Wireline logs have been run and production casing set and cemented. The rig has been released.
Following the fracture stimulation program over the Lower Wolfberry section at Darwin #3, the well is being flowed back. Approximately 30% of the load-water (12,900 barrels were used during the stimulation process) has now been recovered with an increasing oil-cut.
Target Managing Director Laurence Roe commented on the drilling, "Wagga Wagga #1 encountered good oil and gas shows in the lower Wolfberry section and a preliminary log analysis confirms potential pay there along with potentially productive zones in the Fusselman and Ellenburger formations.