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Pennpetro Energy PLC on Wednesday said that drilling operations have been progressing smoothly on the Whistling Straits well in Houston. Pennpetro is an independent oil and gas company focused on production in the Gonzales oil field in Texas, US. The drill bit has now reached the Austin Chalk interval, at its target depth of negative 7,303 feet true vertical depth subsea. The bit is now cutting fresh ground along the planned 4,800 feet lateral within Austin Chalk’s primary oil target interval. ‘I am very pleased with the progress made this week with drilling our first development well in the Peach Creek Oil Field in partnership with Millennium. We are now drilling fresh ground in the Austin Chalk horizontal side-track heading towards the primary oil target,’ said Chief Executive Officer Tom Evans. ‘We have high expectations for the well, and I look forward to updating shareholders in the coming days as we progress towards reaching total depth and completion.’ Pennepetro shares were trading 1.1% higher at 3.19 pence each in London on Wednesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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