Petro Matad spuds Wild Horse exploration well

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.