Aschere Energy today announced further evaluated drilling results for the Eagle Lake Gas Unit (ELGU) #1 Well located in Colorado County. The well has culminated into commercial production on July 13th 2015.Natural gas strategic commercial reserves potential throughout 2015 and years beyond
The Enterprise tap site has been finalized and pipeline construction complete. Facility Pad work is completed with the PL (Pipeline) route staked and all one-call notifications made. The remaining ROW owners will be paid this week, Enterprise has been paid, and the access road to the tap site construction is complete.
Barring any potential for more rain fall next week, operations and final tie in are expected to conclude this month with facility work starting next Monday .We will continue to monitor activity in this World Class Producing Region in Colorado County and the liquids-rich Wilcox Shale play. Planned drilling activity by large operators in and around our positions in both plays, allows Aschere Energy the ability to have each play de-risked prior to having to expend drilling capital. Results of these wells will determine Aschere’s strategy and activity level in these plays in 2015 and beyond; and given competitor success, we may adjust our operational budget to capitalize on opportunities on our acreage positions.
About Aschere Energy
Headquartered in Dallas, Texas Aschere Energy focuses on opportunities for development in existing fields where drilling success ratios are much higher than those resulting from the alternative of drilling in an unproven area. Aschere Energy is actively participating in some major trends in the U.S. such as the Eagle Ford Shale
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