Deals - Joint Ventures | Drilling Program - Wells | Drilling Activity | Drilling Program
Emerald Bay, Alliance Add Four Wells to South TX JV Project
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Emerald Bay Energy Inc. has received an additional four-well drilling commitment through its partnership with Alliance Petroleum Interests, bringing the total number of new wells in development drilling in South Texas to eight.
The previously announced four-well drilling program is under way. The MarPat 1 and MarPat 2 were drilled in mid-January and drilling operations at MarPat 3 and MarPat 4 were completed late last week. All four wells showed the presence of hydrocarbons in multiple formations as expected, and Emerald Bay is moving forward with completing and equipping the wells within the next two to three weeks. The Company will then follow-up and drill four more wells and it is anticipated that all eight wells could be producing as early as March 31. Alliance and Emerald Bay have…
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