Renergen Drill Rig to Spud First Well
Emerging domestic natural gas and helium producer Renergen’s drill rig is ready to spud the first well in its Virginia gas project production hub, located in South Africa’s Free State province.
This comes after several weeks of planning and interaction with Renergen’s geological and engineering consultants. The company has a planned hole that will maximize its chances of gas intersection along the interpreted fracture systems.
“[There is] still a month or so to wait for results before we reach the base of the Karoo, but this is a very exciting time for the company, especially given the progress on the construction on the plant,” says Stefano Marani, CEO of Renergen.
The Virginia gas project covers 187,000 hectares in the Free State, where Renergen has a license to operate in the area until 2042, and holds 100% of the economic interest in the production right. Renergen recently undertook a helium prospective resources report, which showed helium volumes of between 30 and 344 billion cubic feet. Periodic updates will be released as the drilling program progresses.