Foundation Energy continues drilling program in 3rd Quarter of 2012

Posted by Mary-Margaret

Foundation Energy Management has continued its 2012 drilling program primarily on assets acquired by Fund III.  The company drilled three new wells in Rio Blanco County, Colorado in September (see photo.)  The Banta Ridge Federal wells were directionally drilled from a single pad and reached a depth of 4,600 feet to target the Mancos B oil and gas prone reservoir.  The wells will be completed by fracture stimulation in the fourth quarter of 2012.  In addition, the Glen Barker #3 was drilled in Franklin County, Arkansas to a depth of 6,500 feet and was completed in the Lower Carpenter sandstone.  The well was recently connected to the pipeline and is selling gas at 850 mcfpd.

Foundation has also elected to participate in several wells proposed and being drilled by other operators.  These included two horizontally drilled Mississippian Lime wells drilled in Woods County, Oklahoma.

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    Foundation Energy Management, LLC (Foundation Energy) is a manager of energy investments for institutional partners. The company acquires, develops and enhances domestic oil and gas properties and associated midstream assets. Foundation Energy currently operates oil and gas properties in twelve states.

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