Nextraction Energy Corporation reported that it was in the process of drilling the Mountain Mineral #5 well into the Chattanooga Shale close to the Kentucky and Tennessee border.
The well was drilled to a total depth of 2,521 feet at a cost of $170,000. NCE said that $120,000 would be needed to hydraulically fracture and complete this Chattanooga Shale well.
Nextraction (NE.V) news: Apr. 27, 2010 - MHA Petroleum Consultants Inc., an independent petroleum consulting firm based in Lakewood, Colo., estimates original gas in place ranges from 419 billion cubic feet to 2.5 trillion cubic feet with a most likely or best estimate of 903 billion cubic feet for Nextraction's Appalachian basin, Chattanooga (Devonian) shale prospect.
Posted by: Karmen | 04/27/2010 at 08:31 AM