Victory Energy Corporation (VYEY.OB) announced that the company will begin drilling on their first shallow gas well later today. This well is located in the Adams Ranch section of the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas.
The “Canyon Sandstone” gas zone located on this ranch is part of the large prolific Adams-Baggett Canyon Sandstone gas field. The Canyon Sandstone formation is found at a depth of 4,300 feet to 4,900 feet. Initial production for these wells is approximately 250,000 cubic feet of gas per day per well. The success rate for commercially producing gas wells in this area is over 97%.
Jon Fullenkamp, president of Victory, stated, “Upon reaching total drilling depth through our target, the Canyon Sandstone zone, the well will be logged, casing run and cemented into place. This should be completed by Wednesday. We intend to move immediately onto our next drilling site which is already prepared and waiting for the drilling rig to move on.”
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