Regal commences drilling on new SV-59 well, yet to update on SV-53
22 February 2013
Regal Petroleum (RPT LN) commenced drilling its new SV-59 well, the company announced on Feb. 21. The drilling is expected to take about ten months to reach a target depth of 5,470 meters. Should it test successfully, the well will be tied-in for commercial production in 1Q14.
Roman Dmytrenko: The spud of new well looks encouraging for Regal, but we are looking forward to hear more news, specifically on the commercial flow rate from its SV-53 well. Recall, Regal tested its SV-53 well at 1,187 boepd in November and revealed a plan to hook it up to its natural gas processing facility in February.
