Empyrean Energy (LON:EME) announced this morning that drilling has begun at their onshore Texan well, Aquarius. A separate report was issued stating the company have reached total depth at another Texan prospect, the Hercules well. The company have a 10% interest in both wells.
Empyrean Energy is a London-based company, established to finance the exploration, development and production of energy resource projects with a predominant focus on projects in geopolitically stable environments. Current projects include Riverbend (Texas, USA), Sugarloaf Hosston Project (Texas, USA), Project Margarita (Gulf Coast, Texas USA), Eagle Oil Pool Development Project (California, USA) and Glantal Gas Permit (Germany).
According to the report, Aquarius has now been drilled to 3550 feet and continues to be drilled. The primary target of the well is the expanded Wilcox sands, which are reported to have a mean gross unranked reserve potential of 5.9 billion cubic feet of gas equivalent each.
At Hercules, the operator of the well, Krescent Energy Company, announced they have reached total depth, using the BP America 7-740 £1r rig. The Hercules project targets the Upper and Middle Wilcox sands and an 'amplitude versus offset' event, that has appeared in 3D seismic images, according to the report. Subsequent to logs being run and assessed, the company plan to release a further report.
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