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Nostra Terra hits ignition on back-to-back drilling at Permian Basin
Oil and gas exploration and production firm Nostra Terra on Thursday announced the commencement of drilling for its second well at the Permian Basin in Texas.
The G6 well, which is planned to test the already producing Clearfork and San Andres formations, will be drilled to 3,200 feet over a projected period of six to eight days, with full completion of the well expected to follow shortly afterwards.
The Clearfork is made up of three distinct parts that produce on the lease and neighbouring leases at depths of between 2,500 and 3,200 feet, hence the company's plans to drill as far down as 3,200 feet.
If the G6 well, which AIM-traded company Nostra Terra holds a 53.25% working interest in, is successful it will be connected to the existing infrastructure.
Successful or not, completion of works at the G6 well will be immediately followed by the mobilisation of drilling operations to a second location that the company holds a 73% working interest in.
As of 1542 BST, Nostra Terra's shares were down 0.60% at 4.13p.