A traditional chalk well is perforated with a shot that is the diameter of a .22 caliber bullet, with penetration of 6-8 inches into the formation itself, once it pierces the casing, cement, and finally reaching the formation.
According to the company, this patented technology allows for cost effective horizontal drilling at shallow depths maximizing exposure to the targeted formation. The tool is able to drill 31ft out in any direction, at any angle, boring a 2-7/8ths inch hole.
Scott Smith, chairman and CEO of Black Dragon Resource, said: “This technology has the potential to increase chalk oil production by 300% to 1000% thereby increasing revenues substantially.”
Black Dragon Resource is an oil and gas exploration and production company currently focused on the acquisition of mature, producing and existing domestic oil and gas fields.
