Silvertip Gas Well Update
- Rig on location for recompletion of the 64-28F well
- Gas price remains strong on further strategic reserve drawdowns
This recompletion will target gas from the Meeteetse Formation at around 2500'. If successful, the well will immediately be put into production through Eon's gas processing and liquids stripping plant and sold via its sales pipeline.
Gas prices remain high with CIG Rockies benchmark price at $4.43/Mcf over the last week, and continue to be influenced by lower than expected storage volumes. The US Energy Information Administration (EIA) reported that natural gas stocks had fallen by 59 Bcf for the week ending November 23, decreasing by 17.4% to 3,054 Bcf from the 3,698 Bcf that was in storage at this point last year and is 19.1% below the five-year average of 3,774 Bcf.
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About EON NRG Ltd
EON NRG Ltd (ASX:E2E) is an USA onshore focused energy exploration and production company. The Company's growth path is through drilling of high impact oil exploration wells, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow. The company also has a battery minerals division with prospective leases in Nevada which are at the early stages of low-cost exploration.
EON NRG Ltd