Alan Petzet
Chief Editor-Exploration
PERTH, Nov. 7 -- Colorado's aging Florence oil field, having produced more than 15 million bbl of oil since discovery in 1862, is to be redeveloped using modern technology.
Comet Ridge Ltd., Perth, said its US unit will gather 4 sq miles of 3D seismic data and drill directional or horizontal wells to Cretaceous Pierre shale and deeper formations.
A recent vertical well drilled on 3D seismic data is making 100 b/d after having recovered 50,000 bbl of oil from Pierre and is expected to ultimately yield more than 200,000 bbl from less than 3,000 ft.
Comet Ridge, which holds interests in 4,678 acres in the Fremont County field 25 miles west of Pueblo, plans to drill to fractured Cretaceous Pierre and Niobrara shales and possibly to deeper formations.
Strike Oil Ltd., Perth, will participate in the Florence field redevelopment with 26% interest.
Comet Ridge also participates in Tow Creek and Bear River fields in Routt County, Colo.
Contact Alan Petzet at [email protected].
