Petro Matad spuds Wild Horse ex­plo­ration well

The UB Post - - Business & Economics -

Petro Matad an­nounced on Oc­to­ber 23 that it had spud­ded the Wild Horse-1 ex­plo­ration well in the Baat­sagaan Basin in Block IV in the western re­gion of the coun­try. The com­pany said the well is tar­get­ing sub­stan­tial prospec­tive re­sources of 480 mil­lion bar­rels of oil.

“The pro­grammed to­tal depth of the well is 2,200 m and it is ex­pected to take be­tween 30 to 45 days to drill and log. In the lat­ter case, this would see drilling op­er­a­tions con­tinue into De­cem­ber. Although win­ter weather in the area is milder than in the east­ern re­gion, some mod­i­fi­ca­tions have been made on the rig to en­hance its op­er­abil­ity in low tem­per­a­tures and the com­pany is con­fi­dent that this will en­able com­ple­tion of well op­er­a­tions be­fore the win­ter drilling shut­down,” Petro said.

In early Oc­to­ber, Petro an­nounced that op­er­a­tions at its "very ex­cit­ing" prospect Wild Horse-1 con­tin­ues to progress on track with the site con­struc­tion be­ing com­pleted. Petro Matad un­der­lined that it con­tin­ues to ex­pect drilling at Wild Horse to be com­pleted this year as spud­ding was done on sched­ule.

"Op­er­a­tions con­tinue to progress on track for us to drill and log the Wild Horse-1 well this year. Wild Horse is a very ex­cit­ing prospect and from the size of the po­ten­tial prize alone, the Wild Horse 1 well cer­tainly de­serves its place in Wood Macken­zie's rank­ing of the top 20 ex­plo­ration wells to watch in 2018. We con­tinue to work hard on prepa­ra­tions for next year's drilling cam­paign and look for­ward to up­dat­ing the mar­ket on Wild Horse soon,” said CEO Mike Buck.

Pre­vi­ous drilling op­er­a­tions at Petro’s Snow Leop­ard-1 well were com­pleted on Septem­ber 25 and the rig was dis­man­tled and mo­bi­lized to the Wild Horse 1 lo­ca­tion in Block IV in early Oc­to­ber and the site was re­claimed and will re­port­edly be re­stored to its pre-drill con­di­tion.

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