50 MMCF/D did any of you note that
How the ell did SOP pick up this play?? any comments CG stock is $64.00
quote.yahoo.com
The first well demonstrated an open-flow rate estimated at approximately 50 million cubic feet of natural gas per day as it was flared while the wellhead assembly was installed.
Bottom-hole pressure, gauged initially at 6,600 pounds psi, has been sustained through its first month of full production.
ref : columbiaenergygroup.com
Columbia Natural Resources Confirms Trenton Gas Prospect With Second
Successful Well
CHARLESTON, W.Va., Oct. 14, 1999 - Columbia Natural Resources, Inc.
(CNR), the exploration and production unit of Columbia Energy Group,
announced today that it has successfully discovered natural gas in a
second well in the Cottontree Field in Roane County, W.Va. A natural flow
of gas was found at a depth of 9,630 feet in the top of the target
formation. The well's operational characteristics are similar in many
respects to the original discovery well announced in June 1999; additional
drilling and testing will be conducted.
Both wells penetrated the Trenton-Black River formation and encountered
natural gas flows at pressures considered extraordinary in the
Appalachian Basin. The first well demonstrated an open-flow rate
estimated at approximately 50 million cubic feet of natural gas per day as
it was flared while the wellhead assembly was installed. Bottom-hole
pressure, gauged initially at 6,600 pounds psi, has been sustained
through its first month of full production.
"The geologic characteristics of these two West Virginia wells appear
analogous to prospects CNR has successfully developed in New York in
the Trenton-Black River formation," said W. Henry Harmon, CNR president
and CEO. "We have been successful on 70 percent of wells attempted in
the Trenton formation in the New York sub-basin, where CNR has
established production from 28 wells."
This second well is the fourth successful well out of five tests conducted
by CNR this year. The company expects to complete two additional test
wells in similar structures at other West Virginia locations before year-end.
"CNR will continue its aggressive efforts to explore the deeper potential of
prospects throughout the region, exploiting its mineral holdings on more
than 2.6 million acres," Harmon noted. The company has developed
locations and is prepared to drill 12 wells in 2000 to expand and develop
these Trenton prospects in West Virginia.
Jack Watson, CNR vice president of operations, said, "We are still working
to determine the size and operational characteristics of the Cottontree
Field. Completing this confirmation well and making pipeline connections
will provide us with the information needed to fully estimate the magnitude
of this discovery." The company expects construction on an eight-inch
gathering pipeline system designed to serve these two wells will be
completed by early November. Appropriately sized surface equipment will
be installed, allowing the wells to feed directly into a nearby Columbia Gas
Transmission high-pressure interstate pipeline.
Columbia Natural Resources is the exploration and production unit of
Columbia Energy Group and is one of the largest producers of natural gas
and oil in the Appalachian Basin. Headquartered in Charleston, W.Va.,
CNR has holdings that include the equivalent of 860 billion cubic feet of
gas reserves, produced from 8,000 wells and more than 5,400 miles of
natural gas gathering pipelines. The company is in the midst of an
aggressive growth program that includes drilling 230 wells in 1999 and
improving pipeline capacity. Also during 1999, CNR completed
acquisitions of 800 wells and reserves in Kentucky and New York, and the
company's Canadian production affiliate acquired additional properties
and established two joint ventures in the Canadian Maritimes.
Columbia Energy Group, based in Herndon, Va., is one of the nation's
leading energy services companies, with assets of approximately $7
billion. Its operating companies engage in all phases of the natural gas
business, including exploration and production, transmission, storage and
distribution, as well as retail energy marketing, propane and petroleum
product sales, and electric power generation. Information about Columbia
Energy Group (NYSE:CG) is available on the Internet at
columbiaenergygroup.com.
Taff |
