Australian-based Titan Energy said Wednesday it discovered a gas pay zone at its Ward #1 test well on the eastern flank of the Allen Dome project in Texas.
Titan said drilling stopped at 3,367 feet because of “lost circulation issues” and concern that the amount of gas encountered was creating the risk of a possible underground blowout.
The well has now been successfully logged and cased to a depth of 3,280 feet.
“There are a number of potentially productive sands that have been identified,” Titan said.
The well will be perforated and tested for production capacities once the well’s operator has determined the most appropriate market for the potential gas encountered.
Titan holds a 40 percent non-operating working interest in the well.
“The drilling and logging results of the Ward #1 further confirm the potential of the Allen Salt Dome. We anxiously await the results of the forthcoming completion tests on this well and will report these to our shareholders as soon as possible,” Titan managing director Paul Garner commented.