RE: What is a realistic target here4 May 2022 13:09
The first well on the Lease (the Grant East #1) is planned to test the Clear Fork (primary) and San Andres (secondary) formations, both of which are prolific producing formations in the area. The Clear Fork contains three distinct members (Upper, Middle and Lower) which are located between 2,500 feet to 3,200 feet below the surface. All three members are productive in offset acreage and targets in this initial well. The Grant East #1 is anticipated to take approximately 7-10 days to drill and complete if successful. After completion, the well will be fracture stimulated to enhance its productivity and then tested, prior to being placed into production. From spud to production start-up is anticipated to take between 30-45 days in the success case.
Nostra Terra benefits from operating in this area for several years, including drilling the "Twin Well" near this acreage, which reached payout (where the full cost of the well was recovered) in under a year, during a lower oil price environment.