Pegasi will have to complete the well and flow it. The well is drilled but not completed and not producing. The announcement is only referring to the science generated from drilling the wellbore. They think there is 175 of rock that might be productive. They will have to come up with a completion design as far as where to perforate the wellbore and how to stimulate (frac) the formation. Until that happens even Pegasi doesn't know for sure what they have.
Now I understand! Thanks Skip! You are great at putting things into layman's terms for me!
"might" is the key word - plus a completion will only deal with part of this 175' of apparent pay
agree - looks like stock pumping - they did this previously on their horizontal in Cass County a couple of years ago.
As Skip indicates. "pay" does not equal production in all cases - and especially economic production.
Ah, I see! I only know the basics. Very basic basics. I only know it's proven to have been productive back in the day. They are shallow wells, and our property has been in a continuous lease for years thereafter. I have old records, but don't know how to read them. I have letters from the oil companies that begged our relatives to allow them to "water shed". My relatives, for whatever reason, did not allow that. The letters from the oil companies are quite funny, acutally. You can feel their aggrevation.
I learn a lot from all of you and just reading what you have to say. This may come to nothing, something very little or something good. I understand that much. Thank you guys, again, for taking the time to tell me what you know. You are invaluable :)
is the barrow sharer bear creek well drilling yet
Only rig activity right now in Cass Co is Machin & Associates southeast of Linden. Drilling Rodessa well (6500').
they only filed for a verital well but the plat filed with the rr comm. shows a 4200 ft.lateral