Proactiveinvestors Australia Fremont Petroleum Corporation Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Fremont Petroleum Corporation Ltd RSS feed en Tue, 23 Jul 2019 02:09:59 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Fremont Petroleum set to reach target well depth in Amerigo Vespucci drilling ]]> https://www.proactiveinvestors.com.au/companies/news/220020/fremont-petroleum-set-to-reach-target-well-depth-in-amerigo-vespucci-drilling-220020.html Fremont Petroleum Corporation Ltd (ASX:FPL) is on track to reach target depth in drilling at its Amerigo Vespucci #1 well, within its 100%-owned, 21,500-acre Pathfinder project in Colorado, USA.

The company expects to hit the target of about 6,000 feet within the next 12 days, after which well-logging and coring is planned.

Comprehensive logging, designed to identify the most prolific sections in the well for hydraulic stimulation and oil and gas production, is expected to take five days to complete.

“Exciting and big target”

Fremont managing director Tim Hart said the Amerigo Vespucci operations were on track and his team was executing to plan.

He said: “Vespucci is an exciting and big target for Fremont which again primarily targets the prolific and very valuable Niobrara shale formation.

“We will report meaningful hydrocarbon shows as drilling progresses.”

READ: Fremont Petroleum shares surge on strong oil and gas flows at JW Powell well

Fremont reports the intermediate section of casing in the well has been cemented in and about 1.4 kilometres of drill string is being tripped back into the wellbore.

This will allow drilling of the remaining 1,200 feet of the well’s production section, down to the target depth, to be completed.

The company will provide another update when drilling of the remaining 1,200 feet has sufficiently advanced.

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Fri, 10 May 2019 00:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220020/fremont-petroleum-set-to-reach-target-well-depth-in-amerigo-vespucci-drilling-220020.html
<![CDATA[News - Fremont Petroleum shares surge on strong oil and gas flows at J.W. Powell Well ]]> https://www.proactiveinvestors.com.au/companies/news/216054/fremont-petroleum-shares-surge-on-strong-oil-and-gas-flows-at-jw-powell-well-216054.html Fremont Petroleum Corporation Ltd (ASX:FPL) has started to produce strong oil and gas volumes from the J.W. Powell #23-25 well at its 100%-owned 21,500-acre Pathfinder Field in Colorado, US.

 

Crude oil is now flowing into the temporary tanks on location which generates revenue immediately, and the well is producing a 15-foot gas flare in these very early stages.

These rates are expected to increase materially as the balance of the frack fluids are unloaded from the well bore.

The oil and gas volumes being produced from the well are steadily increasing as the water cut diminishes.

J.W. Powell well producing gas from the Niobrara Formation

Fremont managing director and CEO Timothy B Hart said: “These initial production volumes from the Powell #23-25 are building strongly and we now have another solid oil & gas producer on line in the Pathfinder Field.

“We are already collecting oil for sale which will add considerably to monthly revenue almost immediately.

“This well conclusively confirms that the Niobrara Formation is very productive in the Pathfinder Field and it adds hugely to the value of our acreage.

 

“This is simply an outstanding oil & gas field that is vastly undeveloped and has massive upside.

“The Niobrara Formation is some 537 feet thick in the J.W. Powell well so it is going to be a healthy producer for Fremont.

“As well as providing more updates on the flow back operations, we look forward to reporting a favourable IP rate for oil & gas for the J.W. Powell well very shortly.

“We also have many other developments that deliver further upside for shareholders and we will report on these also.”

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Fri, 08 Mar 2019 13:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216054/fremont-petroleum-shares-surge-on-strong-oil-and-gas-flows-at-jw-powell-well-216054.html