Australian oil and gas group Global Petroleum has reported that the third well on the Leighton prospect on the Gulf Coast of Texas, US has reached a total depth of 2,743 metres after intersecting oil and gas shows in the target Olmos reservoir.

Leigton’s operator and 70% owner, Texon Petroleum started drilling Tyler Ranch #2 on August 19. As planned, the well has encountered the same reservoir that was discovered in the first two Leighton wells – Peeler #1 and Tyler Ranch #1.

Wire line electric logs from Tyler Ranch #2 indicate 8 metres of Olmos oil and gas bearing formation. Production casing will now be run in preparation to fracture stimulate and test Tyler Ranch #2 with separate testing equipment. If this test is successful, the well will be placed on production as soon as testing has been concluded, possibly by mid September.

Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with Texon holding 70% and Excellong, Inc holding 15%.
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