FX Energy Inc. (Nasdaq: FXEN) reported that the Lisewo-2 well has started production at an initial gross rate of over 3 million cubic feet of gas per day (Mmcf/d). The company's 49% share of this new production represents a 12% increase over the company's average daily rate of 12.9 Mmcf/d equivalent during the first half of 2014. The Lisewo-2 well was completed in December 2013 and started delivering gas to the Lisewo facility just nine months later, the shortest time for any of the Fences wells to date.
The company also reported that the Karmin-1 well, which started drilling July 29 this year, is currently drilling in the Zechstein at a depth of 2,307 meters. The well is a planned test of a 3-D defined Rotliegend structure at a projected depth of 2,460 meters. Karmin-1 is located on trend with two earlier discoveries at Zaniemysl and Roszkow, both of which were completed with much higher than average reserves and production rates.
The Baraniec-1 well, which began drilling last month, is currently at a depth of approximately 2,304 meters. The well is a planned test of a Rotliegend sandstone structure at a projected depth of 3,885 meters. If successful, Baraniec-1 will be connected to the production facility at Lisewo and could be in production in 2015.
The Lisewo-2, Karmin-1, Baraniec-1 wells all are located in the Fences license where the Polish Oil and Gas Co. (PGNiG) is the operator and owns 51% of the working interest; FX Energy owns 49%.
The company also reported that site preparation is nearly complete and the rig will begin moving on to the Angowice-1 well location next week. Drilling is expected to start in mid October 2014. The Angowice-1 well targets a 3-D defined Devonian reefoidal buildup at a projected depth of 3,084 meters. The target is similar to the productive horizon at Tuchola Field about 12 kilometers to the southeast. If the Angowice-1 well is successful, it could share production facilities with the Tuchola wells. The Angowice and Tuchola wells are located in the Edge license, where the company is the operator and owns 100% of the working interest.
FX Energy is based in Salt Lake City.
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