ASX-listed oil and gas explorer, Winchester Energy Limited has announced that a new well, White Hat 20#3, the first of its kind targeting the Strawn formation within the Mustang prospect, is scheduled to commence on 11 March 2019.
White Hat 20#3 represents the first well in Winchester’s upcoming exploration drilling programme which is targeting the Mustang, Spitfire and El Dorado prospects in the Permian Basin, Texas.
The Mustang prospect is a stratigraphic trap interpreted from 3D seismic and well control data and holds a prospective resource target best estimate of 2 million barrels recoverable and a high estimate of 5 million barrels recoverable.
The company confirms that the White Hat 20#3 well is a ‘step out’ on a large strategic sand play in the Strawn Formation that will also test fractured Ellenburger and other Strawn units. Winchester has estimated the probability of success for discovering oil in the White Hat 20#3 well is 58 per cent.
Within the prospect and approximately 510 metres to the north-east of the White Hat 20#3 well location, the company has stated that the White Hat 20#2 well produces oil from the Strawn sand with an initial production rate of 200 barrels of oil per day following a frack simulation.
Winchester also has plans for a fracking program to target another oil-bearing zone in the Strawn Formation, which is also scheduled to commence in March 2019.