Grand Gulf's Jesse-2 well Appears to be Non-Commercial
- AKAP
- Apr 23, 2023
- 5 min read
Grand Gulf Energy's share price fell by over 30% following the results of the Jesse-2 appraisal well in SE Utah, which was a 1.5 mile step-out from the Jesse-1A well. Although helium concentrations of 0.7-0.9% were encountered, the well only flowed at a maximum rate of 30mcf/d, given low reservoir porosity. The well only encountered 23ft of net pay over a 192ft gas column compared to 101ft of net pay in the Jesse-1A exploration well. The Company is now preparing for the Jesse-3 well and assessing options for stimulation and remediation of Jesse-1A and Jesse-2 for future production.
