Patriot Resources Inc., Midland, Tex., has spudded the Rhino-1 well in San Benito County, Calif., northeast of Salinas, described as the first location chosen to test for hydrocarbons in traps interpreted from 20 sq miles of modern 3D seismic in the 21,000-acre Vallecitos Project.
Dry hole cost is $1.4 million to 9,000 ft to test for oil in two intervals of the Eocene Yokut sandstone and other secondary targets within a mile of F&I field, which has yielded more than 3.6 million bbl of oil from Yokut at an average 3,300 ft, said Strata-X Ltd., Golden, Colo., with a 22.5% working interest in the project.