One of the best Red River wells in the Minton-Hardy South area is within 150 metres of J19 and several new horizontal wells are now targeting oil in the Bakken formation adjacent to Petro One's properties.
The Sail and Anchor 3-13-14 HBK (horizontal Bakken) well completed drilling the 8-3/4” intermediate hole, set and cemented 7” casing at 11,675 feet measured depth at 86 degrees in the upper Middle Bakken.
The Spyglass Hill Unit comprises approximately 113,000 gross acres and holds all of the leases within the unit to all depths, including those depths and formations below the CBM Mesa Verde coal formation.
The new Western Oklahoma pipeline is supported by long-term producer commitments and is expected to be in service by the end of the first quarter of 2014.
The most notable geological features of this region are the Lower Huron (Devonian) shale at a relatively shallow drill depth (3200 to 5000 feet) and Marcellus shale, with Utica shale lying at deeper levels underneath.
The site was chosen to take advantage of the oil production from the Eagle Ford shale play, considered to be one of the largest oil and gas fields in the world.