Crude Oil News Energy Review
crude oil news gas and energy are information oil future trading, market prices, mining energy, natural gas exploration drilling company industry review
Sacramento Basin: Royale Energy Discovery Natural Gas Magnum Well in Lonestar Field
Sponsor Links
Royale Energy, Inc announced it has set pipe at its Magnum #1 well located in the Lonestar field area of the Sacramento Basin. The well reached total depth and electric logs have been run. The well intersected a thick Forbes formation confirming the targets that were indicated on Royale Energy’s 3-D seismic data.
Log analysis indicates the presence of over 20 ft. of natural gas charged high porosity sand reservoir which correlates with the strong seismic amplitude response.
The drilling rig will be moving directly to the Goddard #2 location. This offsets the Goddard 7-1 that is currently producing 5,000 MCF per day. The price Royale is currently receiving has climbed to $4.55 per MCF. The company plans to drill three more wells by the end of the year. First deep-water production romania russia shell saudi arabia gas exploration details about the saudi arabian petroleum mining oil drilling industry joint ventures joint venture shell aramco oil company director @hotmail com petroleum mines in india a joint venture between saudi aramco and shell shell gas drilling pa saudi aramco company license to drill for oil or gas in australia oil company jv joined venture with an oil company aramco mining russian gas company hotmail com the gold mine of oil in saudi arabia oil companies venture company joint venture.