Independence Energy has confirmed the arrival of the drill rig at the Taylor-MEI #113 well located in Coleman County, Texas.
According to the President and CEO of Independence Energy, Mr. Gregory C. Rotelli, the contracted drilling rig has reached the well location and the company has scheduled to commence the drill program at the Taylor-MEI #113 well, by early next week. This well is a re-completion to the Gardner Sandstone formation, indicated to be prolific in the region and is likely to be completed in about 10 days. The company has planned to start the re-completion of the program’s second well, the Taylor-MEI #115, immediately after the completion of the Taylor-MEI #113, Rotelli stated.
The Taylor-MEI #113 well belongs to a two well re-completion campaign that focuses on possible oil-bearing formations, indicative to be prolific in the region. The company originally drilled the Taylor-MEI #113 and the Taylor-MEI #115, which are planned to perform re-completion to the Gardner Sandstone formation.
The participation of the company in the two wells has been structured as a 2.5% of working interest. The original participation contract includes all expenses for testing, completing and equipping the wells with initial completion.
Independence Energy is an oil and gas exploration and development firm, which concentrates on projects found in America. The company is looking forward to develop its current projects by means of offset drilling or development and to extend its portfolio to contain further property interests in the US.
Source: http://www.independenceenergycorp.com/