Proactive Investors - Run By Investors For Investors

Reabold Resources hails success of new California well

"Success at VG-4 is a great result, both in terms of the substantial increase in cash flow that we can generate from West Brentwood, and in proving that we have significant running room within our California portfolio”
oil and gas operations
It will be delivered into production

Reabold Resources Plc (LON:RBD) told investors that the VG-4 well has been drilled successfully at the West Brentwood field.

The field is located in California and the new well has been drilled down to a depth of 4,700 feet, encountering significant oil and gas shows. Subsequent logging analysis confirmed the presence of the net pay.

READ: Reabold Resources delighted with farm-out of North Sea licence

It is now​ planned that the well will be completed and brought into production. Reabold holds a 50% interest in the well which is now set to generate revenue.

"Success at VG-4 is a great result, both in terms of the substantial increase in cash flow that we can generate from West Brentwood, and in proving that we have significant running room within our California portfolio,” said Stephen Williams, Reabold co-chief executive.

“We are looking forward to drilling additional wells in California this year, as well as to the results of multiple drilling events across our other projects in the coming weeks."

More drilling is planned in California. The company’s next well in the schedule is known as Monroe Swell.

View full RBD profile View Profile

Reabold Resources Timeline

Related Articles

Gas plant
April 29 2019
“2018 was a tough year for the company but we ended the year on a high."
Hurricane
March 01 2019
Hurricane Energy has gone from a conceptual idea to point of substantial production
oil well
May 02 2019
US Oil & Gas has submitted an application to frack the Eblana-3 well along with a hydrogeology report.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use