Vine Energy Inc. said Oct. 26 it had completed the drilling phase of the longest onshore horizontal well in the State of Louisiana.
The CHKMIN 20-29-32HC-01 ALT was recently drilled in Sabine Parish to the Mid-Bossier formation with an estimated lateral of 15,240 ft and total measured depth of 27,520 ft. The well was drilled in 35 days and the drilling phase cost approximately $400 per lateral ft, a Vine record for both drilling time and cost, according to a company release.
The well is scheduled for completion in January.
In a statement commenting on the news, David Elkin, Vine’s executive vice president and COO said: “I want to congratulate the Vine team for what is quite simply a remarkable achievement that complements the numerous, best-in-class milestones we’ve realized since Vine’s inception.”
Vine Energy was established in 2021 following the combination of privately held predecessor companies Vine Oil & Gas, Brix Oil & Gas Holdings and Harvest Royalties, creating the leading, pure-play Haynesville natural gas company.
On Aug. 11, Vine and Chesapeake Energy entered into a definitive agreement whereby Chesapeake will acquire Vine. The transaction is expected to close fourth-quarter 2021.
Recommended Reading
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.