Drilling & Completions | Key Wells | Drilling Activity
Emerald Bay Breaks Ground on Floyd 1 Well in Guadalupe County, TX
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Emerald Bay Energy reported that drilling operations have commenced on the Floyd 1 well at the recently acquired F. Poenitz lease in Guadalupe County, Texas.
Once the Floyd 1 well is drilled to the base of the Navarro formation, casing will be set in the well and the rig will immediately move to drill the Floyd 2 well. When drilling operations are completed the wells will be prepared to be fracture stimulated. It is anticipated that both wells will be on production in early October.
Well Partners
The Floyd 1 and Floyd 2 wells are being drilled in partnership with HugoCellR Ltd. (“Hugo”), whereby Hugo will pay 100% of the costs to earn a 75% Working Interest in the wells. As the operating partner, Emerald Bay earns a 25% interest in the wells at no cost to the Company.
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