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Breitling Energy Corporation announces the start of the drilling phase of the Steller Energy Cole #1 in northwestern Sterling County, Texas.
The proposed 8100-foot vertical well is scheduled to spud today in search of oil zones in the Wolfcamp lime and Cisco-Canyon sands. The well is offsetting the Marathon #1 Cole that was completed in the Lower Wolfcamp formation in 1969, which intersected over 100-feet of limestone.
Chris Faulkner, Breitling Energy's CEO and Chairman, said: "We are participating in this prospect because it is a target play for our Company. It should intersect the most prolific zone in the Permian Basin and is in a favorable drilling area that we know very well. The pipeline infrastructure here is excellent so lifting costs are minimal. We're excited to get another Permian well started."
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