Talisman Energy Brings Two Appalachia Wells on Production At 34 MMCF/D
biz.yahoo.com
Wednesday August 2, 12:11 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 2, 2006 -- Fortuna Energy Inc., a wholly owned subsidiary of Talisman Energy Inc. (TSX:TLM.TO) (NYSE:TLM), has started production from two prolific natural gas wells in the Appalachian Basin of New York State.
The Stoscheck #1 well was drilled vertically, then steered horizontally across a newly identified graben structure within the upper Black River Formation. Fortuna Energy Inc. has a 99.6% interest in this well. The well is currently flowing at 22 mmcf/d (gross sales gas) with a flowing pressure of 2,600 psi. The pressure measured on the well test indicates that a new pool has been penetrated by the Stoscheck well.
The second well, Hartman BJ#1, is currently producing at 12 mmcf/d (gross sales gas) at a flowing pressure of 1,950 psi, from what is interpreted to be a new pool. Fortuna has a 49.25% working interest and operates the well. East Resources Inc. has the remaining 50.75% interest and was the drilling operator. Fortuna is evaluating additional drilling locations near both wells.
Fortuna Energy Inc. has an active exploration and development program in 2006. Fortuna plans to drill or participate in a total of 17 horizontal Trenton Black River wells and five vertical wells, spending US$110 million in 2006, including two compressor installations. Fortuna is currently producing 110 mmcf/d. |
