Calima Energy Ltd (ASX:CE1) has spudded the Gemini #9 well in Alberta, Canada, and is on track to take the oil and gas asset to total depth.
The energy stock believes it will take eight days to drill the well and will target the Sunburst Formation over the next few days.
Calima also finished drilling the Gemini #8 well on June 14 and expects to bring it online within the next fortnight.
The company notes that oil and gas shows were as expected while drilling.
Calima Energy CEO and president Jordan Kevol: “The company is pleased that Gemini #8 has been drilled and with WTI ~US$120 per barrel, each well will have a meaningful impact on revenue.
“The two Thorsby wells are now back on production above 550 barrels of oil equivalent per day after their coil cleanouts.”
Plans for Q3
Next up, Calima plans to drill the Pisces #4 and Pisces #5 wells, while the Leo #4 well is awaiting completion.
A full summary of the company’s drilling operations and each well’s standing is below:
