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Mosman Oil and Gas Ltd spuds Winters-2 well in Texas

Winters-2 will be drilled 7,000 feet into the Wilcox formation, which produces in other nearby wells.

Mosman Oil and Gas Ltd (AIM:MSMN) told investors that the Winters-2 well has now spud.

Winters-2, located in Polk County, Texas, has so far been drilled down to 1,445 feet and is expected to reach target depth next week.

The company noted that casing has been purchased in preparation for the well’s completion, and, it will report results when they are available.

The company’s Nadsoilco subsidiary holds a 29% interest in the winters lease and it is the operator (it has an effective 23% working interest in the well).

Mosman acquired an interest in the Winters lease through a June 2021 transaction with Nadsoilco.

The team has been in the field ready to drill for some time, but had been waiting on rig equipment which was delayed due to Covid-19 impacts.

Winters-2 will be drilled 7,000 feet into the Wilcox formation, which produces in other nearby wells.

In late September, Mosman said the well is expected to cost US$700,000 gross, US$160,000 net to Mosman.

Read More: Mosman Oil and Gas Ltd spuds Winters-2 well in Texas

2021-10-11 02:28:00

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