88 Energy Limited announced Friday that the Icewine #1 exploration well, located onshore Alaska, has spud.
The well will be drilled to a total depth of 11,600 feet and drilling operations will take approximately 30 days to complete. The primary objective of the well is the HRZ shale formation. Upon completion of drilling, certain data will be available immediately, according to the company, although 88 Energy expects the definitive testing of the HRZ shale potential to take several months of data analysis. Icewine #1 is the maiden exploration well on 88 Energy’s Project Icewine acreage.
Dave Wall, managing director of 88 Energy Limited, commented in a company statement:
“Spud at Icewine #1 is a momentous occasion for 88 Energy and its shareholders, without whose support the well would not have been funded. Our thanks go to all the financial backers of the company as well as the team on the ground in Alaska, who have hit the top end of the curve in relation to timing of permit submissions. We would also to thank all of the regulatory bodies in Alaska whose collaborative approach has ensured that our tight timeline has been achieved. We hope to deliver a safe outcome that is beneficial to all stakeholders in state. Good luck to all holders.”
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