Kingslake Energy Announces 10 New Gas Wells in Devonian Shale Area
Posted on: Monday, 18 February 2008, 09:00 CST
Natural gas exploration and production firm Kingslake Energy has permitted four locations and picked six others for possible natural gas well locations on its 20,000 acres of oil and gas leases located in the Devonian shale area, in Morgan County, Kentucky.
The company stated that it has drilled eight natural gas wells ahead of schedule. Four wells have reportedly been placed in production and four wells are in completion phase.
James Pagnum, Kinglake's president, said: "Our extensive geology study shows a uniform deposition of Devonian shale across the lease holdings. It is not uncommon for these highly stable wells to produce at a steady rate for decades. We are confident that in light of efficient recovery technology and soaring energy prices, our progress in the Devonian shale represents a tremendous investment opportunity for our company and shareholders."
Source: Datamonitor
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