Mako Energy’s second horizontal well reaches target depth
Mako Energy (ASX:MKE) today announced that the MKE HZ Provost 12-2 horizontal well has now reached its targeted total depth.
The development well is located in the Provost area of Alberta, Canada.
It is the second development well within the same pool as Mako's successful MKE HZ 14-2, which has been producing oil since early October.
Mako expects a service rig to move on location early next week. The well will then be completed and it will begin oil production within 10 days.
The Provost project comprises 384 hectares of land. Mako is targeting the Duvernay shale play which is still in its infancy.
Not only do the partners hold rights to the Duvernay horizon but also to a shallower tight sandstone light oil play above it - the Rock Creek formation, already proven to contain light oil and natural gas liquids.
The investment bank Macquarie, which recently published a report on the play, its economics and its geology, has already dubbed Duvernay the new Eagle Ford, drawing parallels with the hugely prolific south Texas formation.
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