Boleed East Prospect | EF VC20, LP
Results: Drilled and plugged (dry)Status: Excess capital refunded
Orbit Energy & Planet Operating
Orbit Energy drilled the Gueninger #1 well in 2016 – 2,000′ West of the Boleed, discovering and producing commercial quantities of L-5 & L-6 sands. They began reviewing the proprietary seismic of the area around the Grueninger and created the drilling unit for the Boleed East well (EF VC20, LP). It’s not very often that you get to drill one well and test three potential pay zones from three different seismic amplitudes. The location of the well is in a prime spot to produce the Leonards (Miocene) L-5 and test the L-1 & L-6 sands, if they’re present.
We funded the project in May 2018. Drilling began May 06, 2018. They found all three sands — all three sands were wet (water-filled). There was no productive pay or signs of hydrocarbon. The trapping mechanism for the formation was not present, and therefore, the hydrocarbons migrated elsewhere.
Well abandoned. Excess completion & facility capital refunded to investors.