Melrose Resources plc, the oil and gas exploration, development and production company, today announces a successful appraisal well in the USA.
In East Texas, the Holmes No.4 well has been successfully drilled to appraise the Van Reit formation at a location to the southwest of the main producing Holmes field. The well reached a total depth of 10,197 feet and encountered the top reservoir at 9,820 feet where strong gas shows were experienced whilst drilling. Open-hole logs confirmed the presence of a net gas pay interval of 29 feet with an average porosity and water saturation of 21% and 28%, respectively. The reservoir pressure indicates that the discovery area has not been depleted by production from the main field.
The discovery is estimated to contain probable reserves of 10.2 Bcf and it will be completed and tied back for production within the next two months.
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