LONDON (AFX) - Aminex PLC, the oil and gas company listed on the London and Irish Stock Exchanges, said drilling of the South Weslaco well number GU37 in Hidalgo County, Texas, has commenced.
Aminex also said Apache Corp has exercised an option to participate with a 50 pct interest in GU37.
This is the third development well to be drilled by Aminex in the South Weslaco field. It will test deep objectives in the high pressure gas formations of the Lower Frio sands. It is expected to reach the target depth of 3,400 metres in the next few weeks.
The first two wells, GU35 and GU36, completed in the shallower Frio sands formation where more drilling is also planned, were brought on stream in Dec 2005 and are currently producing at a rate of approximately 2.5 mln cubic feet per day.
Besides Apache, the other partners in well GU37 are Aminex USA Inc with 12.5 pct, the operator Stalker Energy LP with 24.5 pct, Activa Resources LLC with 12.5 pct and Kaler Energy Corp with 0.5 pct.
Aminex retains a 25 pct interest in the existing producing wells. newsdesk@afxnews.com jsa COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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