Nostra Terra starts Permian basin drilling campaign

Nostra Terra Oil and Gas Co. PLC started a drilling campaign on the Grant East lease in the Permian basin, West Texas.

The lease consists of multiple units which contain a total of 160 acres, with rights to all depths. Three wells are being permitted with plans to complete up to eight new wells targeting the Permian age Clear Fork formation on 20 acre/well spacing. Some offset acreage, however, has been developed down to 10 acre/well spacing, providing for the potential of up to 16 new wells on the lease. Optimal spacing will be determined based upon the initial well results.

Grant East #1, the first well on the lease, will be spud in the coming days to test the Clear Fork (primary) and San Andres (secondary) formations. The Clear Fork contains three distinct members (upper, middle, lower) which lie 2,500-3,200 ft subsurface. All three are productive in offset acreage and are targets in this initial well. 

The well is anticipated to take 7-10 days to drill and complete, after which, the well will be fracture stimulated to enhance productivity and then tested prior to being placed into production. If successful, the well is anticipated to take 30-45 days from spud to production.

In other activity, completion and testing operations on the Fouke #2 well are nearing completion with the well anticipated to be placed into production within the next week.

Nostra Terra Lease owns the Grant East lease, and drilling costs for Grant East # 1 have been internally funded.