Gulf Oil and Gas accountACCOUNT

Reabold Resources Annouces Spudding of Second Well at Monroe Swell

Source: www.gulfoilandgas.com 3/22/2019, Location: North America

Reabold is pleased to announce that Integrity Management Solutions ("IMS") has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California, in which Reabold expects to earn a 50 per cent. equity interest.

The drilling of Burnett 2B follows the successful Burnett 2A well drilled on the Monroe Swell field, as announced on 11 March 2019. Following the Burnett 2A drilling results, Reabold and IMS, made the decision to seek accelerated permitting for the Burnett 2B well, which was successful. The drilling rig was retained at Monroe Swell and, accordingly, is now drilling the 2B well.

Assuming success at Burnett 2B, both wells at Monroe Swell will be tested following the completion of drilling activities and put onto production shortly after.

Following the drilling and completion of Burnett 2B, Reabold will have completed its earn-in to the Monroe Swell licence area and will be assigned a 50 per cent. equity interest. Future activity at the Monroe Swell field will be undertaken at a 50 per cent. paying interest to Reabold.

Stephen Williams, Co-CEO of Reabold, commented:

"The success of Burnett 2A was a significant milestone for Reabold, as we unlocked the potential across the Monroe Swell asset which has considerable further upside. The secret to optimising potential value at Monroe Swell will be to drill multiple wells, and we are very pleased to have been able to spud our second well so soon after the first discovery. Burnett 2B represents our fourth California well and the sixth well within the Reabold portfolio since we started drilling at VG-3 seven months ago. We are delighted to be able to continue to offer consistent drilling activity for our investors, and in addition to Monroe Swell, are keenly anticipating drilling at West Newton, Parta and Grizzly Island."

Exploration News in United States >>

Guyana >>  4/18/2019 - ExxonMobil made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to ...
United Kingdom >>  4/9/2019 - AIM-listed Egdon Resources has announced the results of a Competent Person's Report ('CPR') prepared by Schlumberger Oilfield UK in relation to the Re...

Australia >>  4/8/2019 - Carnarvon Petroleum and its Joint Venture partner and Operator, Santos, have moved quickly to appraise the Dorado discovery made in the third quarter ...
Oman >>  4/8/2019 - Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) have signed a Heads of Agreement (HoA) for the award to Total of an exploration l...

Egypt >>  4/7/2019 - Minister of Petroleum and Mineral Resources Tarek el Mullah conferred with his Saudi counterpart Khaled el Faleh on means of boosting joint cooperatio...
Lebanon >>  4/5/2019 - The Lebanese government has approved the opening of the country’s much-anticipated 2nd offshore licensing round. Interested companies will be expected...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.