US Oil and Gas

US Oil and Gas rejigs drilling timetable at Hot Creek Valley

Issues with the on-loan drilling rig mean US Oil won’t be able to complete all of the work it had planned to this time around

oil workers at drill site
US Oil & Gas owns 100% of the Hot Creek Valley project in Nevada

Preparations for drilling the Eblana-3 well at US Oil and Gas PLC’s (LON:USOP) Hot Creek Valley project in Nevada are “well underway”.

Recent log analysis showed potential hydrocarbon pay in multiple intervals of which USOIL had planned to perforate and flow test a selected number. 

But mechanical problems with the rig, on loan from C&J well services, have slowed progress, so the company has had to rejig its timetable.

READ: USOIL back to drilling business in Nevada

The plan now is to use the remaining scheduled days to complete the planned perforation programme while the rig and its operators are still onsite.

But constraints on the availability of the personnel and on the rig itself mean there won’t be enough time for the production test swabbing to be completed.

“The intention, therefore, is to pause operations and carry out the full testing programme after the rig has been rescheduled,” read Friday’s update.

“Shareholders will be informed of planned recommencement when the availability of rig and associated equipment has been confirmed.”

Additional acreage in Hot Creek

In the same announcement, the company revealed it has acquired an additional lease acreage in the valley.

US Oil has leased 11 new lots, totalling 19,639 acres, from the Nevada Bureau of Land Management which border the firm’s current acreage.

The company’s total acreage position in Hot Creek Valley is now 41,860 acres (approx. 169 sq. km.).

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