Bering Exploration to utilize CTL Technology to re-enter abandoned well bores
Monday, Dec 31, 2012
HOUSTON, Dec. 28, 2012 /PRNewswire/ -- Bering Exploration, Inc., (OTCQB: BERX) announced today that it plans to utilize lateral technology to re-enter well bores that were previously abandoned. Bering currently has 34 abandoned well bores on its existing leases and has initially targeted three for re-entry utilizing coiled tubing laterals (CTL). The process will allow Bering to drill with coiled tubing up to four laterals a maximum of 300 feet each per interval in the target zone. Bering is estimating the cost of drilling the laterals at approximately fifty thousand dollars per interval.
"We look forward to employing this technology," stated Steven Plumb, Chief Financial Officer of Bering. "We believe that these efforts will enable us to re-establish production on these leases."
About Bering Exploration, Inc.
Headquartered in Houston, Texas, Bering Exploration, Inc. is an independent oil and natural gas company that focuses on identifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region. Additional information about Bering can be found on the web at www.beringexplore.com.
SOURCE Bering Exploration, Inc.
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