Vine Energy Inc. (VEI) announced today the conclusion of the drilling phase of the longest onshore horizontal well in the State of Louisiana.
The CHKMIN 20-29-32HC-01 ALT was recently drilled in Sabine Parish to the Mid-Bossier formation with an estimated lateral of 15,240 feet and total measured depth of 27,520 feet. The well was drilled in 35 days and the drilling phase cost approximately $400 per lateral foot, a Vine record for both drilling time and cost. The well is scheduled for completion in January 2022.
Commenting on the news, David Elkin, Vine's Executive Vice President and Chief Operating Officer said, "I want to congratulate the Vine team for what is quite simply a remarkable achievement that complements the numerous, best-in-class milestones we've realized since Vine's inception. It reflects our commitment to operational excellence, safety and sustainable value creation for all stakeholders."
About Vine Energy Inc.
Vine Energy Inc., based in Plano, Texas, is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The Company is listed on the New York Stock Exchange under the symbol "VEI".
On August 11, 2021, Vine and Chesapeake Energy (CHK) - Get Chesapeake Energy Corporation Report entered into a definitive agreement whereby Chesapeake will acquire Vine. For more information about this transaction, visit investors.chk.com.
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