This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Samson Oil & Gas Operational Advisory

Stocks in this article: SSN

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):

NORTH STOCKYARD PROJECT

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) advises that it has commenced the necessary preparatory work to begin drilling operations on the Billabong 2-13-14HBK, which are expected to commence in the next 24 hours.

This well will be drilled into the Middle Bakken horizon. The surface casing on this well had previously been set at 2,300 feet. The well will be drilled vertically to a kick off point at 10,824 feet (TVD) and 7 inch casing landed at 11,300 feet (TVD) in preparation to drill the 6,100 foot lateral in the Middle Bakken.

The directional plan has been modified based on the lessons learned from drilling the previously reported Sail and Anchor well to manage the difficult drilling conditions experienced in that well. These modifications have included elimination of the deviation in the vertical part of the hole and the employment of a directional drilling contractor with the ability to use a rotary steerable bottom hole assembly. A rotary steerable bottom hole assembly has superior capabilities to control directional drilling compared to conventional steerable equipment. In addition a lighter mud weight will be utilized in the lateral wellbore, which should increase the rate of penetration.

The decision to drill this second Middle Bakken well rather than fracture stimulating Sail and Anchor was taken for several reasons, including the significant cost savings that can be made by stimulating the Sail and Anchor and Billabong wells simultaneously with a hydraulic fracturing treatment. These cost reductions come from a single rather than multiple mobilization costs of the fracture stimulation and ancillary equipment as well as the ability to conduct a single work over in the offset wells to place bridge plugs to protect those wellbores. These savings are estimated to exceed $1 million.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs