By Christian Moess Laursen
Beacon Energy said Monday that a drilling pipe stuck in the Schwarzbach-2 well in Germany has caused a delay in the development of the well, but that its wholly-owned subsidiary running operations has successfully recovered the pipe.
The oil-and-gas company–which was formerly known as Advance Energy–said the incident happened after drilling had reached depth of 100 meters above the first target, which remains untested. The operations team will now clean out the hole section where the pipe was stuck before continuing with drilling to the target reservoirs.
“Clearly this is an unfortunate development that has caused a delay in delivering the Schwarzbach-2 development well, however we see a minor impact to the overall costs of the well relative to its upside potential in the success case,” Chief Executive Larry Bottomley said.
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