They would like someone on that drill
bit with five years' experience and can make money for them.
There is also a competitive feature to these drills
, as the players will be challenged to complete the designated drill
with accuracy and be the first to return to the starting point for the next command.
A full deployment drill
requires extensive planning and a major commitment of time and resources.
(starting position depicted in Photo 2):
According to the original plans, the crew could drill
to 15 km there before reaching the 300 [degrees] C mark.
Other options: Players 2 and 3 can also cross and come back (with player 1 in the middle) to repeat the drill
in the other direction, or 2 and 3 can go back 2-on-1 against 1.
Because of poor hole conditions and a diminishing supply of drill
bits, however, they were able to drill
to only 33 meters.
After the winter drilling break, current plans are to drill
the Salcia prospect, another plunging anticline in the same area as the Lapos prospect with unrisked potential of 7 to 25 MMBOE.
The Company has two drilling rigs operating full-time and has estimated it will drill
25 new development wells and re-frac 13 existing wells in the fourth quarter.
The key to this project is the ability to drill
without damaging the reservoir, and then use our proven Calliope technology to recover stranded gas reserves that we can estimate with a high degree of confidence.
Under a Drilling and Development Agreement executed between Starlight and EnCana on May 5, 2006, and which Eden will become a party to, Eden and Starlight have agreed to drill
a minimum of four additional wells in areas outside of the current Participating Areas (PA's) commencing in the fall of 2006.
The Company presently plans to drill
up to four additional wells on this acreage.
The Longtom-3 well will be complex and will cost approximately $35 million to drill
and complete, roughly double the average cost of a Bass Strait (Gippsland Basin) well.
The Company expects to drill
more than 40 wells in the Barnett Shale in the second half of 2006 and anticipates having six rigs running in the play prior to year-end.
Natural gas reserves typically are found deeper and generally require bigger and better equipment and more experienced crews to drill