Target Energy to Drill East Chalkley Field

Target Energy plans to start drilling the Pine Pasture #3 development well at its East Chalkley oilfield in Cameron Parish, Louisiana, US.

The firm will drill up to a total depth of 9,842ft and take about three weeks to reach its target depth.

The well will be drilled from the existing production facilities and be deviated 538m to the south-west, with the bottom hole about 272m south of the Pine Pasture #2 bottom-hole location.

Target has a 35% working interest in the East Chalkley field, which produces about 100 barrels of oil per day from two wells.

The field may have up to 1.7 million barrels of P50 recoverable reserves and resources, with a P10 or upside estimate of four million barrels of oil, according to Target’s reserve studies.