Dome Energy Provides an update on the Orange Drilling Program
Following the successful initial Gulf Lee Hager Fee (GLHF) drilling program at the start of the year, the Company has identified further offset drilling potential within the field. Through the use of new subsurface data from the drilling program in conjunction with 3D seismic, the Company believes it has identified the same Frio trend in the South West of the field as found in the extensively drilled North.
Dome has contracted the Nicklos #2 Drilling Rig drill three directional wells from a single well pad targeting the trend as well as identifying potential shallower Miocene sands as found in the initial GLHF drilling program. Dome expects to spud the first of these wells by the last week of March.
Following completion of the drilling of the three wells, the rig will be moved to the GLHF location to drill the additional GLHF #41 well to further continue the appraisal program on the Hager Frio Sand trend.
Paul Morch, CEO commented; “We are continuing our development of the Orange field using the maximum geological and geophysical data at our disposal. Our aim as a Company is to minimize our risk to give the best return to our shareholders. In addition we are aiming to improve our IRR per well by using a single drilling pad for three wells. We have chosen to start the second stage of our Orange drilling program at our Peveto leases, and this will be followed by other stages on the Hager lease.”
For further information please contact:
Susanna Helgesen, CFO
Phone: +46 708 27 86 36
US phone: +1 281 558 8585
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq OMX First North exchange in Sweden (Ticker: DOME). Remium Nordic AB is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.