All lined up: Ascent Resources focuses on Hungarian probes.
Ascent eyes gas from Peneszlek
London-listed Ascent Resources has started drilling on the PEN-101 well, a gas producer expected to be tied back to the existing production facilities in the east Hungarian Peneszlek project.
PEN-101 will target a Miocene gas formation within a structure defined on 3-D seismic of the area acquired in 2008. The well will take about one month to complete and is planned to reach about 1500 metres deep.
PEN-101 will draw gas from the PEN-105 discovery. A new pipeline connecting PEN-105 to the production site is now completed and awaiting pressure testing, according to Ascent.
Production will recommence at the Peneszlek project on the rig departure.
Ascent expects to drill the PEN-106 exploration well and test the PEN-104AA side-track after completing PEN-101.