- Shoal Point (SHP) abandons Pratt County well
- This is the first miss Shoal has experienced to date
- There is one well in production, with three others in various stages of completion
- Minor delays in finalizing the right of way were experienced for one well specifically.
- The spur line is under construction, ready for operation in two weeks
- Shoal Point Energy (SHP) is down 12.50 per cent, trading at C$0.04 at 1:59 pm EST
Shoal Point Energy’s (SHP) sixth well in its Pratt County project in Kansas has been plugged and abandoned.
“This is our first clear miss in Pratt County,” said Jarvis.
The company has one well in production, and three are currently in various stages of completion.
In addition, there is also one well that is awaiting a spur to a gas pipeline.
According to Jarvis, there were some delays the company experienced in finalizing the right of way. The spur line to this specific well is under construction and may be operational in the next two weeks.
“We plan to pause our drilling to absorb the knowledge we have gained from this well, but we believe there are further locations to exploit in the play,” added Jarvis.
Shoal Point Energy trades on the CSE under the symbol ‘SHP,’ focuses on its Pratt County project in Kansas, and retains its oil and gas interests in western Newfoundland.
Shoal Point Energy (SHP) is down 12.50 per cent, trading at C$0.04 at 1:59 pm EST.
