Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Fremont Petroleum has identified crude oil at its Amerigo Vespucci well in the USA through a series of drill strings
  • The company is set to commence an extensive logging program which will identify the most productive areas for hydraulic stimulation and completion
  • Based on initial results, Fremont said it appears they have intercepted a crude oil producing fracture

Oil and gas production Fremont Petroleum has identified crude oil at 154 out of 199 drill strings at its Amerigo Vespucci well. The well is located within the company’s holding at the Niobrara Formation, Colorado, USA.

Fremont said based on early indications, it looks likely a crude oil producing fracture has been intercepted by the company. The intersect is “under pressure which is liberating in to and up the well-bore.” The drill strings covered in crude oil combined a total depth of 1408.17 meters.

Following the indications on the drill strings, the company is introducing a series of logging tools which will be used to locate where the oil is originating.

Currently, an electronic logging program is being initiated, which is examining the company’s four benches at the Niobrara Formation and the deeper Codell and Greenhorn formations.

According to Fremont, following the completion of the logging programs, an “extensive geophysical and petrophysical analysis will be completed”. This is expected to map the most productive areas for hydraulic stimulation and completion.

The company advised they will progress the well until completion and further updated will be released as they happen.

FPL by the numbers
More From The Market Herald
Australia and New Zealand Banking Group (ASX:ANZ) - New Zealand CEO, Antonia Watson

" ANZ Bank (ASX:ANZ) cashes in on UDC Finance asset sale

ANZ Bank (ASX:ANZ) has sold New Zealand asset finance company UDC Finance to Shinsei Bank for…

" AMP (ASX:AMP) braces for $4b hit to FUM after Woolworths ends contract

AMP (ASX:AMP) expects a $4 billion hit to its funds under management following the termination of…

" AMP (ASX:AMP) divests its interest in Resolution Life Australasia for $524m

AMP Limited (ASX:AMP) has divested its equity interest in Resolution Life Australia (RLA) to Resolution Life…
AMP (ASX:AMP) - Chief Executive Officer, Alexis George

" AMP (ASX:AMP) flags 2021 full-year loss as demerger looms

AMP (ASX:AMP) has announced a slip in revenue and steep full-year loss for its 2021 financial…