A disappointment for Holloman Energy at Australian exploration well
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
Disappointing end result
Despite a promising start from the Baikal well on the 4th of December 2015, the end results have been disappointing. Last week, the well had been drilled to a depth of 629 m and was progressing well. The drilling of the Baikal #1 continued to progress smoothly without any incidents, environmental issues or significant delays. The well was drilled to a depth of 2176 m, (7138 ft), on time and under budget. As no hydrocarbon shows were found, Holloman Energy Corporation (OTCQB: HENC) agreed to plug and abandon the well. The management of the Joint Venture partners plans to hold discussions in the upcoming weeks to determine the next steps to take pertaining to the Company's Petroleum Exploration Licenses in Australia.
Adapted from a press release by Louise MulhallRead the article online at: https://www.oilfieldtechnology.com/drilling-and-production/10122015/a-disappointment-for-holloman-energy-at-australian-exploration-well/
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