The Energy Information Administration (EIA) said Wednesday that it has delayed the release of some of its January oil and natural gas inventory reports in observance of the Martin Luther King holiday on Monday, Jan. 17 and the presidential inauguration on Thursday, Jan. 20. The weekly natural gas storage report that would normally be released on Thursday, Jan. 20 will be delayed until Friday, Jan. 21 at 10:30 a.m (EST). The EIA’s report on U.S. crude oil and petroleum product inventories will be delayed until 5 p.m. (EST) on Wednesday, Jan. 19, instead of the weekly report’s normal release on Wednesday at 10:30 a.m. (EST).
In an update on its exploration activities in Alberta, Questerre Energy Corp. reported that the drilling of its previously reported Parkland well was completed in late December and that it has recently spudded its previously reported well in the Vulcan area. Drilling logs on the Parkland well indicate the well is prospective for hydrocarbons in five zones of interest. Questerre said completion and testing operations for the well will commence later this month. The Vulcan test well is targeting a natural gas prospect in the Cretaceous group with potential reserves of 1-5 Bcf. Drilling is expected to take approximately two weeks. With success, Questerre, in conjunction with its partner, proposes to pursue four follow-up locations identified on acreage in this area. Calgary-based Questerre is an independent resource company actively engaged in the exploration for and development, production and acquisition of large-scale natural gas projects in Canada.
Delek Resources and Maxim Resources announced Wednesday that they have entered into a multi-well joint venture agreement to drill in North Dakota. The initial program is for one well with an option on another three wells. The operator will be Quantum Operators, a Delek affiliate. Delek said the target is the Lodgepole Formation, where the average Lodgepole completion has an estimated recovery of 1,000,000 bbl and 500 MMcf, with the larger ones having as much as 4,000,000 bbl and 1 Bcf. The target depth is 9,600 feet. Initiation of the program is subject to rig availability. Delek Resources is an oil and gas exploration and development company focused on bringing high technology to exploration. The company is focused on using this technology in the Williston Basin in North Dakota and the Hardeman Basin in western Texas.
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