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American Energy Production Inc. Announces Investee Bend Arch Petroleum Inc. Begins Drilling Operations with Ideco H-40 Drilling Rig Wednesday January 18, 8:00 am ET
MINERAL WELLS, Texas--(BUSINESS WIRE)--Jan. 18, 2006--American Energy Production Inc. (OTCBB:AMEP - News) announced today the beginning of drilling operations by Bend Arch Petroleum Inc. with its Ideco H-40 drilling rig. ADVERTISEMENT
Surface casing has been set and cemented on Bend Arch Petroleum 12 well Palo Pinto lease Hart #8 well. The H-40 drilling rig will begin drilling out from under surface pipe on Thursday January 19. Originally this well was scheduled to be a 3,500 foot Strawn sand natural gas well to test several shallow sands and also to evaluate the Ideco H-40 drilling rig. However, after beginning drilling operations management decided a deeper test to the top of the Ellenberger formation would be a more viable use of resources for two reasons.
The first reason is the Company recently completed an extensive 3-D seismic study on 2500+ acres, consisting of two tracts, in Central and North Central Palo Pinto County, Texas and to help evaluate the
3-D seismic shot, a sonic log needs to be run to the top of the Ellenberger formation to help tie the mapping of the faults together. The second reason to drill a deeper test well is the possibility that a Barnett Shale or Marble Falls formation or a Bend Conglomerate formation well can be successful. After electric logging is completed the well will be evaluated to determine if the well will be horizontally drilled in the Barnett Shale formation.
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Green so far today...What AMEP needs to do is release the actual report from the 3D study and hit some black gold or a decent size nature gas deposit.
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OK, our last 10QSB was on November 21st, so it looks like their next quarterly report should be coming out sometime very soon, if they are going to release one. Anyone heard any rumors about when or if we will get the quarterly, and how do you guys think it is going to look?
Also, anyone know if we will get a 10Q, or if they will just release their earnings in April when they release their 10KSB/Annual report?
-------------------- All you need in this life is Ignorance and confidence; then success is sure. Mark Twain
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Devon touts attractiveness of unconventional gas Paula Dittrick Senior Staff Writer
Higher natural gas prices and advances in technology are making the economics of producing unconventional gas more attractive, said William A. Van Wie, Devon Energy Corp. vice-president and general manager.
Unconventional gas fields can prove prolific, and Devon is pursuing opportunities in basin in the US and Canada from tight sands, shales, coalbed methane, and oil sands, he said.
"The Barnett shale is helping stabilize the North American gas picture," Van Wie said of the North Texas gas play during a Dec. 20 luncheon speech sponsored by the Houston Planning Forum, the University of Houston Global Energy Management Institute, and the Houston Technology Center.
The Barentt shale is the state's busiest play in terms of rigs running and number of wells being drilled.
Recent developments include 20-acre well spacing in parts of Barnett shale as well as the development of elaborate horizontal well systems, he said. Devon is re-fracturing some of the original wells. In addition, the company uses micro-seismic mapping to track its fracturing jobs and to determine what kind of rock it's accessing.
Devon bought Mitchell Energy & Development Corp. in January 2002. The acquisition included Barnett shale assets. Devon now has more than 2000 producing wells in the formation, and has 18-20 rigs running in the play. Van Wie said Devon sees plenty of future opportunities there.
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For full text of article subscribe to Oil & Gas Journal at (http://ogj.pennnet.com)
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US drilling pace to escalate from 20-year high in 2005 Alan Petzet Chief Editor-Exploration
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US Plays
The Barnett shale continued as most active US play, although rig count figures indicated that drilling is moving away from the North Texas core area counties of Jack and Wise and into several counties in West Central Texas Dist. 7B to the south and west.
East Texas drillers averaged 173 rigs/week in 2005, up from 131 in 2004, and West Texas had 100, up from 74.
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For full text subscribe to Oil & Gas Journal at (http://ogj.pennnet.com)
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Quest normally posts on HSM (**************.com) They are upgrading their servers so the site is down today, but that's where you can find him.
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