Mainland Resources, Inc. announced that the company has started to drill a well to test the potential of the Haynesville Shale formation on its acreage in Mississippi.
The Burkley Phillips No. 1 well is located on the Buena Vista Prospect, and will be drilled to a total vertical depth of 22,000 feet. The company will use the results of the well to test a 2,500 foot section of the Haynesville Shale.
Mainland Resources, Inc. was attracted to the prospect due to a previous well drilled by a major oil and gas company in 1981. The Chevron Long encountered an over pressurized formation at approximately 19,400 feet, and several productive formations at shallower zones.
The Chevron Long well was originally drilled to target the Smackover and Cotton Valley formations, but was plugged and abandoned due to a lack of technology to complete the well correctly. Mainland Resources, Inc. said that the prospect can now be developed using current technology in the oil and gas industry.
Mainland Resources, Inc. has 17,500 net acres under lease on the Buena Vista Prospect. The company believes that it has 220 drilling location on its acreage assuming eighty acre spacing between wells.
Mainland Resources, Inc. also has acreage prospective for the Haynesville Shale in Louisiana. The company has 2,700 net acres under lease and has drilled four horizontal wells on its properties to date.
For more information on the company, go to www.mainlandresources.com
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