FX Energy, Inc. reported an operational update on the company’s oil and gas activities in Europe and the United States. The company is focused mostly on a number of unconventional resource plays in Poland.
FX Energy has reached total depth of approximately 13,800 feet on the Plawce-2 well located on the Fences Concession in Poland. The company found net gas pay in the Rotliegend sandstone and will decide on completion options after the well is logged and tested.
FX Energy plans to start drilling two more wells on the Fences Concession in 2011. The Komorze-3 and Mieczewo wells are designed to test various structures found during seismic operations on the properties.
The company is also active in the Warsaw South concession, which comprises 880,000 net acres in a different area in Poland. FX Energy recently drilled the Machnatka well, the company’s first well of a four well program designed to evaluate various oil and gas zones on the property.
The company reported that the Machnatka well was unsuccessful and is being plugged and abandoned. FX Energy plans to evaluate seismic data before proceeding with the other three wells.
FX Energy has 75,000 net acres under lease in Montana that is prospective for the Bakken formation. The company has drilled two vertical wells and intends to begin hydraulic fracturing operations on these wells shortly.
For more information on the company, go to www.fxenergy.com
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