Mainland Resources has reached total depth of 22,000 feet with its Burkley-Phillips well, drilled to test the Haynesville in Jefferson County, Mississippi on the border with Louisiana.
To date, the project has cost hear $9.2 million.
Referencing a Chevron well drilled in ’81, a January 4 report by Jefferies & Co. Inc. noted that, “estimates are of a much larger, thicker resource than Louisiana, more over-pressured, with just as much free gas, which could lead to high initial production rates if wells can be completed successfully.”
In a company press release, Nick Atencio, Mainland CEO stated, "Reaching the Total Depth is an important milestone for us, since it is the last stage in the drilling process. We have reached this stage well ahead of schedule given the well complexity and the sheer magnitude of drilling below a depth of four miles. Now we can move on to the work at hand – namely determining our path to completion."
The company is now working to set casing in preparation for completion.
Mainland has roughly 18,000 acres in the area.
