(MENAFN- ProactiveInvestors - Australia) Titan Energy (ASX: TTE) is drilling an exploration well targeting a proven oil producing zone on the northern flank of its Allen Dome salt dome field in Texas.
JT Reese-S1 is located updip of the historic 4c well, which had good oil shows when swabbed, and is expected to take up to five days to reach its planned pre-drill total depth.
Importantly, should the well be successful, Titan has a number of follow-up, look alike sites for targeting the 1,400 foot sand.
Titan is also preparing to drill the JT Reese-S2 exploration well that targets five separate horizons at a separate location.
Each of these horizons has the potential to produce about 50 barrels of oil per day if commercial.
JT Reese-S2 may take seven to eight days to reach its total depth of 5,200 feet.
The Allen Dome salt dome is located about 80 kilometres south of Houston, Texas in Brazoria County.
Oil production from the dome flanks began in the 1920's with cumulative oil production over 800,000 barrels to date from less than 20 wells. Less than 50 wells have been drilled on the dome flanks, all of which were located utilising sub-surface well information.
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