MCF, Genexco granted permit for drilling of Kinsau 1A well in Germany
The Southern Bavaria Mining Authority has issued a final permit to MCF Energy for exploratory drilling of the Kinsau 1A well in the Lech Concession. Natural gas has been produced in Bavaria since 1954.
Through its German subsidiary Genexco, MCF has a 20% interest in the Lech Concession (approximately 6 sq km) and is carried by the operator Genexco Gas. Several additional well locations on the Lech Concession have been identified for potential development.
The Kinsau 1A drilling project is a re-entry and re-drill of the Kinsau #1 discovery well, originally drilled in 1983 by Mobil, which was drilled to a depth of 12,926 ft and encountered basement rocks. Gas and condensate indications were found within the Jurassic Purbeck Formation at 10,429 ft.
The project produced over 24 mmcf of gas and condensate per day. The well was completed by stimulating it with acid and tested over a 74-ft perforated interval. The entire well test took 3.5 months to complete.
MCF Energy plans to leverage existing infrastructure to minimize costs and enhance efficiency of the Kinsau 1A well, using nearly 3,280 ft of existing steel and cemented casing from the original well to safeguard groundwater reservoirs.
The Kinsau 1A well will be drilled using the same RED Drilling rig that drilled the Welchau #1 well in Austria earlier this year. Well site construction is already underway with a groundwater monitoring well already drilled.
“We are thrilled and expect to resume drilling in September,” said James Hill, CEO and Director of MCF Energy. “I am grateful for the continued support of our shareholders while the company strives to enhance value and meet our operational objectives.”
