GREY:RNSFF - Post by User
Post by
Boots333on Aug 21, 2018 9:35pm
157 Views
Post# 28496741
Chincontepec Progress
Chincontepec Progress Chincontepec
Roe has just completed drilling of well #17 in the Chincontepec formation. The first 11 wells have been placed on production. The other 6 are at various stages of completion and will be put on production. Some wells are mediocre, some are really good wells. Management has been drilling, coring testing, fracking and getting a clear picture of how to move forward and develop the Chincontepec formation. We need to remember that the Chincontepec formation is a vast resource and many companies have been built on such an acreage and formation. Roe does not anticipate drilling any more well in this formation at this time. they will analyze all results and develop a plan for moving forward.
When the Contract migrates, all of the drilling and production will give a good boost to ROE’s production and revenues.