US focussed oil and gas company Golden State Resources Limited (ASX: GDN) has announced the progress of the drilling operations at the Paradox Basin # 3 (PB#3) production well, the third well on the Golden Eagle Gas field in the highly productive Paradox Basin region of Utah.
Paradox Basin #3 has reached its total depth of 11,847’MD (Measured Depth) 10,758’ (True Vertical Depth). Preliminary interpretation indicates the well has penetrated the Desert Creek Formation.
Paradox Basin #3 has encountered higher levels of background gas and better gas shows than observed in the previous two wells. The combined gas show interval is 131’MD (114’ TVD) occurring in six zones. The company said it is is very pleased with the show results.
Shows one and two of 548 and 777 Units respectively have been assigned provisionally to the Honaker Trail Formation. Show three which extends for 42’ from 11,012’ to 11,054’ is in the Paradox Formation.
Show zone three has exhibited persistent shows during subsequent reaming and conditioning runs with up to 1823 Units. Show four of 270 Units extends from 11,367’ to 11,378’ and occurs in the Ismay Formation and has provisionally been assigned to the Upper Ismay Formation.
Show five of 416 Units has provisionally placed in the Gothic Shale or Lower Ismay Formation. Show 6 of 3099 Units is considered to be in the Desert Creek Formation.
The well is currently being conditioned prior to logging. Logging is expected to commence later today and should take approximately 1 day. Logs will be sent to RPS Energy for preliminary petrophysical evaluation to confirm the presence of gas.
Paradox Basin #3 will be then completed with 5” casing. Rig 234 will be disassembled and data from the well will be more comprehensively evaluated by RPS Energy to assist in the design of the completion, testing and stimulation programme.
A specialised test rig will be mobilised for the completion following the evaluation.