Mátra Petroleum suspends Marcali-1 discovery in Hungary for testing

Analysis

Mátra Petroleum Plc has announced that it is suspending the Marcali-1 well for testing of the Pannonian gas discovery.

Total depth of 1620 meters was reached without encountering hydrocarbon shows in the secondary Triassic target. The well is now being suspended to allow testing of the Pannonian gas discovery which was the primary objective. The drilling rig will be moved off the site and a workover rig will be used to conduct testing on both the Horvatkut-1 and Marcali-1 gas discoveries.

Mátra Petroleum Plc’s Managing Director, Peter Hind said: „We are planning a testing program on both discovery wells that will allow us to acquire further data and complete the wells for future production. Using a workover rig is more cost effective and will allow us time to source the most appropriate equipment. This will take place in the next couple of months depending upon rig and equipment availability.

Work on commercializing the discoveries will continue in parallel.” Mátra has a 40% interest in the well and the Inke Concession. A subsidiary of Aspect Energy has a 60% interest in the well and the Inke Concession. Aspect Energy's main Hungarian subsidiary is Hungarian Horizon Energy. (oilvoice.com)

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.