Tekton concludes drilling of five horizontal wells

Drilling of five additional horizontal wells from Tekton’s Pavistma South pad that started in late August was finished yesterday, significantly ahead of schedule. All drillings reached the oil-bearing Codell- and Niobrara layers. Tekton’s management assumes to complete all wells in late October and commence production by mid-November.

All drillings reach oil-bearing layers/Successful “batch-drilling” reduces drilling time

Heidelberg/Denver. Drilling of five additional horizontal wells from Tekton’s Pavistma South pad that started in late August was finished yesterday, significantly ahead of schedule. All drillings reached the oil-bearing Codell- and Niobrara layers. Tekton’s management assumes to complete all wells in late October and commence production by mid-November.

Tekton successfully tested a different sectional drilling approach called batch drilling. Instead of concluding one well after the other and moving the rig at a high cost, the wells were divided into three sections and drilled sectionwise. Due to mounting the rig on rails, changeover times for section changes shorten. The idea was to reduce number of hours service companies had to be present and hours used for changing crews or equipment.

This drilling concept is known from other US basins. Tekton is the first company to perform batch drilling in the Wattenberg Field. As a consequence, the wells were drilled in less time and cheaper. Whereas Tekton in line with most companies in Wattenberg uses 14 days per well as average drilling time in its model, the five Pavistma wells were drilled in approximately 10.5 days per well.

As of today, the drill rig will be moved to Tekton´s Frye Farms pad, located close to the Pavistma pad. Drilling from Frye Farms will commence within the next days. Tekton plans to test one Codell well and two Niobrara B wells. Tekton holds a working interest of 98.5% in these three wells. A second drill rig is scheduled to start drilling from Tekton´s Diamond Valley East pad by mid-November.

Jerry Sommer, CEO of Tekton Energy, noted: ”We are very pleased with the outcome of our horizontal drilling so far. Our team has managed to drill the first seven wells faster and with less costs than industry average suggests.”

Heidelberg, 14 October 2013

Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in political stable countries with high environmental standards. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de.

Contact:

Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share this site.