Exploration & Production | Deals - Joint Ventures
Breitling to Participate in Wilcox Sands Project
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Breitling Energy Corporation announced participation in the New Wilcox Sands Project.
The Company is participating in the Jackson Prospect with Frank Davis Exploration Company, a Mississippi-based exploration and production company (FDEC). FDEC drilled a directional well from Concordia Parish, Louisiana to Adams County, Mississippi.
The Jackson Point #1 well reached total measured depth on December 23, 2014. The following day, Schlumberger ran its Triple Combo logging tools and took sidewall cores, which revealed significant shows of oil. The decision to run production casing was made on Christmas morning and casing was set and cemented on December 26, 2014. The Company estimates an additional five offset locations could be drilled on the property.
FDEC is currently coordinating perforating and flow back operations. The building of surface facilities should begin in January 2015.
Breitling Energy CEO Chris Faulkner said: "Our strategy at Breitling Energy all along has been to target assets that show potential at conservative oil prices. We say no to prospects a lot more often than we say yes. This way, we don’t worry what Saudi Arabia or OPEC is doing. If our strategy works today, it will work when prices recover, which we firmly believe they will."