Mogul Energy International (Mogul) has started drilling followed by spudding at its third well, the Werland Heirs #1, in Texas. The location of this well is around 10 mi. towards the northwest part of Aransas Pass in Texas. It is anticipated that to attain 9,600 ft target well depth in the Frio structure, drilling needs to be done for around 21 days.
All working interest owners have been involved in the drilling of this third well. Currently, GM and Partners, Global Oil and Gas Resources, Merek Contract Services, RDR Capital Investors, Aura Oil Holdings and Merek Contract Services are a part of the lease agreement. Mogul has earned 25% working interest in the third well and has become the operator of record.
Tim Turner, Mogul’s CEO and President, stated that this is a significant success in the development campaign in South Texas. Since the drilling operations have commenced in another of the several prospective regions of the company, this is a significant step that validates the commercialization of these assets.
Turner added that a large amount of production information is available from several wells of the Mud Flats Field. The company is expecting to examine many similar productive zones in the primary well, which were drilled in the adjacent wells.
Source: http://www.mogulenergy.com/