Comet Ridge Ltd., Brisbane, said its US subsidiaries plan to spud an exploratory well in the Grays Harbor area of coastal Washington state in late June.
The well the company calls Yeti will be the first on the acreage for Comet Ridge Resources, which has mapped many other prospects and leads (OGJ, Nov. 20, 2006, p. 46). CRR holds 100% interest in Yeti, which is understood to be a gas prospect.
CRR has signed a drilling contract, and the location is nearly built. All required permits and approvals have been obtained and service contractors secured. Comet Ridge Ltd. owns 17.257% of Comet Ridge Resources, Denver.
Comet Ridge affiliate St. Helens Energy LLC, Denver, will drill Yeti 34-31, in 31-19n-8w, Grays Harbor County, in a Weyerhaeuser commercial producing forest 6 miles northwest of Montesano, Wash., at a ground elevation of 409 ft. It is projected to 8,000 ft. State records do not specify formations or geology.
The Yeti site is 22 miles east of abandoned Ocean City oil field, where a Sunshine Mining-operated discovery well in 15-18n-12w produced 12,500 bbl of oil in about 4 years from a sandstone of Oligocene age at 3,900-4,000 ft before being plugged in 1961 (OGJ, Aug. 26, 1957, Newsletter). Yeti is also 50 miles northwest of Jackson Prairie gas storage field in Lewis County.
Meanwhile, CRR's affiliate Pine Ridge Oil & Gas LLC has agreed to sell Florence oil field in Fremont County, Colo., to an undisclosed buyer for $12.25 million. In redeveloping Florence field, CRR said, it has completed 22 wells and produced 630,000 bbl of oil.
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