Drilling commenced on 17 November 2019 and at last had update reached 1,575 metres downhole.
At 1,525 metres downhole, a gas spike to 1,100 units was noted, with samples demonstrating increased porosity and oil staining.
The well is targeting a zone of conventional Cretaceous Rex sands at around 1,405 metres vertical depth before the well’s horizontal section will commence.
Drilling of the horizontal leg of the well will soon commence which will measure around 1,800 metres in length.
Rex-3 is the third of a potential 20+ wells
The Wizard Lake Oilfield has the potential to contain over 24 wells targeting 11 million barrels of oil equivalent.
Drilling of the third well Rex-3 follows the recent commencement of construction work to expand processing facilities at Wizard Lake.
The expanded facilities will be capable of handling 5,000 barrels of fluid a day along with 5 million cubic feet per day (mmcfd) of gas.
The expansion is supported by the success of the Rex-1 and Rex-2 wells.