Petrolympic Drills Appraisal Well 80-2v at Chittam Ranch Property
Petrolympic has reached a 3,980 ft target depth (TD) by drilling its appraisal well 80-2v at the Chittim Ranch property.
The appraisal well has infiltrated seven oil and gas bearing horizons including Georgetown, which is the primary target horizon for oil and gas production. The company has encountered positive oil and gas showings in the Georgetown and additional formations.
At present, the company is estimating side wall cores and electric logs from the drilling program. It has planned to complete the well at the earliest. The drilling rig is presently casing 7" to 3,980 ft.
As part of the earn in agreement with ShellWestern E&P and Texas HBP, Petrolympic is drilling the Chittam Ranch well. It has the right to earn a 50% working interest in this property.
The CEO of the company has stated that the completion of the well and observing its rate of production are the next steps. Petrolympic has planned to make the necessary fiscal commitment to earn in on the 8000+ acre property, by considering that the well produces at least 50 barrels a day for 60 successive days.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
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Scanlon, Joel. 2019. Petrolympic Drills Appraisal Well 80-2v at Chittam Ranch Property. AZoMining, viewed 04 February 2026, https://www.azomining.com/News.aspx?newsID=4333.
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