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News Breaks | | | | December 13, 2011 | | 08:10 EDT |  | GSX | Gasco Energy updates on Green River oil wells
Gasco Energy provided an interim operations update on recent Green River oil well activity in its Riverbend Project in Utah's Uinta Basin. Gasco recently reached total depth of 5,574 feet in the Green River Formation on the Federal #34-19G-9-19. The second Green River well, the Federal #23-30-G-9-19, also recently reached total depth of 5,473 feet in the Green River Formation. Both wells, which are Gasco-operated, were successfully drilled in approximately five days and encountered oil shows while drilling and Green River Formation oil pay as anticipated by the Company. Preliminary log analysis for both wells indicates reservoir quality sands within the Green River interval. Production casing has been run on the first well and is currently being run on the second well. Gasco will release the rig once casing operations are completed. Completion operations for the wells, which will be completed successively, are scheduled to commence in early January 2012. The company expects to announce the initial production rates of the two wells after it has fracture stimulated each of the wells and has completed production testing after flowing back frac fluids. | |
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