- Black Mountain Energy (BME) commences drilling of its first Permian Basin well, as part of the company’s recently acquired Half Moon prospect in New Mexico, USA
- The company announced that the operator mobilised the Scandrill Producer drilling rig to the site
- The MIA 64 FEE 2H well is designed to appraise the 3BS interval with an around 2.8-kilometre lateral
- Drilling is expected to take around 25 days, with the first production anticipated in approximately 90 days
- Shares in BME last traded at two cents at 11:15 am AEST
Black Mountain Energy (BME) has commenced drilling on its first Permian Basin well, as part of the company’s recently acquired Half Moon prospect in New Mexico, USA.
The company announced that the operator, Manzano LLC, had mobilised the Scandrill Producer drilling rig to the site.
The MIA 64 FEE 2H well is designed to appraise the third bone spring (3BS) interval with an around 2.8-kilometre horizontal lateral.
BME Chief Operating Officer Michael Laurent said it was “great” to be drilling the company’s first Permian Basin well.
“We look forward to providing shareholders with milestone updates on this inaugural activity along with further planning details around developing the Half Moon prospect in the Permian Basin,” he said.
The company reported that the drilling phase was expected to take around 25 days, while the first production is anticipated in approximately 90 days.
Shares in BME last traded at two cents at 11:15 am AEST.