Some 10 weeks since the drilling permits were lodged and still no approval for the three Battle Mountain wells but approval must be close as we've now passed the average wait period.
Meanwhile SouthWestern Energy(SWN) have drilled a successful horizontal well in the Sandwash Basin in acreage south of Focus Ranch - the Welker 6-92 well has flowed over 400 b/oil from a 4663ft lateral. They were also drilling a further 4 vertical wells in late 2014 and are in the process of testing and completing these wells with a total of four zones within the Niobrara potentially productive. SWN plan on spending $110mil in the Sandwash Basin in 2015 by drilling a further five wells in 1H15 and that amount also includes $85mil for Land and G&G(seismic) activities - hopefully some of that includes a deal with us in the FRU.
ETE Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held