Far East Energy Spuds 23rd Well in China

Far East Energy announced that 7 new wells have been commenced in the 12 days since the last 2013 China drilling program update release issued on Thursday, May 16, bringing to 23 the number of wells spudded in 2013.  

They are production wells 62-4D, 81-1D, 81-2D, 81-3D, and 165D and appraisal/exploration wells SYSE-09 and SYE-09.  Additionally five wells reached total depth (TD) in the past 12 days.  These are the 62-2V, 62-1D and 104D production wells, as well as the SYW-13 and SYW-09 appraisal wells.  

Meanwhile, the Company’s 2013 frac campaign has commenced, with 16 wells now ready to be fracture stimulated, 13 of which are production wells and 3 of which are appraisal wells.

Bob Hockert, Far East Energy China Country Manager commented, “By the time these 16 wells are stimulated, another 10 wells will be in the queue for fracing.  Our goal is to continue the frac program uninterrupted until late October or November, ultimately comprising approximately 100 wells.”