The company revealed on Tuesday that it had started drilling on the Peeler Ranch-5H well at the Atascosa project.
The well is being operated on New Standard's behalf by Magnum Hunter Resources and is expected to take about 20 days to drill to a total depth of 2950 metres and will have a lateral length of 1735 metres.
“I am delighted that we have been able to progress operations alongside Magnum Hunter to a point where we are able to drill our first well only a week after receiving overwhelming support from our shareholders to purchase the Atascosa project,” New Standard managing director Phil Thick said.
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