Mogul Energy, an oil and gas exploration company based in Houston, Texas, has announced the initiation of drilling operations on the fourth well project. The commencement began with the spudding of the Kunitzwell #1, located in the North Pasture Field, San Patricio County. The total target depth of the drilling is estimated at 7,850 ft and is likely to be completed in 20 days.
The North Pasture Prospect well has received complete participation of the working interest owners comprising of Indian Lane, Plastiform Packaging, P. C. Jackson, RDR Capital Investors, Global Oil and Gas Resources, Dolomiti and andMerek Contract Services. Mogul Energy, the operator of record, has 25 % carried working interest in the Kunitz well.
The Werland Heirs well #1, Mogul’s third well project in South Texas that commenced in December of 2011, was drilled to a depth of 9,600 ft in Aransas County. The well was determined as uneconomic since the volume of hydrocarbon was too low. The Mud Flats Prospect is currently being investigated by personnel for alternate drilling locations.
The President and CEO of Mogul Energy, Tim Turner explained that the company is carrying out drilling activity in shallow inexpensive wells with possibility of multiple pays in an effort to find excellent reserves.
Mogul Energy, with offices in Seattle, Washington, Houston, Texas and Toronto, aims to develop and explore prospective lands that are located adjacent to properties producing oil & gas. The company has teamed up with geophysicists and geologists specializing in the upper Texas Gulf Coast area in an effort to identify offset wells and near wells.
Source: http://www.mogulenergy.com