2011 Exploration Projects The Company is currently in the process of drilling one Niobrara oil shale appraisal well in the Atlantic Rim, in which Double Eagle will have an estimated working interest of 93%. The Company began drilling this well on October 18, 2011. The Company experienced challenges in getting through the multiple pressure zones in the CBM formations and the water injection zones. We have resolved these initial issues and are proceeding to the target Niobrara formation. As of January 5, 2012, the well was at approximately 3,600 heading toward the goal of 9,400'.2012 Development Projects For 2012, the Company's initial plans are to continue development in its two main fields. In the Atlantic Rim, the Company expects to drill between 10-20 new CBM wells in the Catalina unit and participate in 25 new CBM wells in the Anadarko operated Doty Mountain Unit. Depending upon the results of the initial test well, the Company could drill several Niobrara wells also in the Atlantic Rim. In the Pinedale Anticline, the Company anticipates participating in 16 new wells to be drilled in 2012.
Double Eagle Petroleum Co. Updates 2011 Exploration And Development Projects
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