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Compton Announces First Basal Quartz Horizontal a Success
CALGARY, March 6 /CNW/ - Compton Petroleum Corporation (TSX - CMT, NYSE - CMZ) is very pleased to...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nCALGARY, March 6 /CNW/ - Compton Petroleum Corporation (TSX - CMT, NYSE -\nCMZ) is very pleased to announce the results of its first Basal Quartz\nhorizontal well at Hooker and other recent operational activities.\n\n\nHooker\n\n\nCompton has successfully completed the first horizontal well in southern\nAlberta targeting the Hooker Basal Quartz formation utilizing multi-stage\nfracturing technology. The well at 9-17-17-29W4 was drilled with a 700 metre\nhorizontal leg and is currently flow testing at six mmcf/d. It is scheduled to\nbe tied-in within two weeks. A second Basal Quartz horizontal well is\ncurrently drilling at 15-30-16-29W5 and 15 follow-up locations have been\nidentified.\n\n\nWhile Compton has been employing horizontal drilling and multi-stage frac\ntechnology in the Niton area of central Alberta with excellent results, the\n9-17 well at Hooker is viewed to be of major significance in that it\nestablishes that this technology is applicable to the development of the\nHooker Basal Quartz play in southern Alberta. To date, the Hooker play has\nbeen developed through drilling one to two vertical wells per section.\nReservoir modeling indicates up to four vertical wells per section may be\nnecessary to fully develop the play. A horizontal well could replace two to\nthree vertical wells, eliminating the need for extensive down-spacing in the\narea.\n\n\nThe existing Basal Quartz play, as currently delineated, extends over\nfour townships where Compton has an average working interest of approximately\n85% and is the operator. Eighty vertical wells are currently on production.\nIncreased productivity from horizontal wells has the potential to\nsignificantly accelerate production and the recovery of reserves, thereby\nincreasing the net present value of the play. Infrastructure necessary to\naccommodate the accelerated production growth and development of this play is\nlargely in place.\n\n\nNiton\n\n\nIn the Niton area of central Alberta, we are continuing to pursue the\nRock Creek formation utilizing horizontal drilling combined with multi-stage\nfracturing. We have drilled a total of five horizontal natural gas wells in\ntownship 53, range 15 W5 and are now drilling to the south west in\ntownship 52, ranges 16 and 17 W5 where Compton controls a total of 14 sections\nof land with an average 85% working interest a...