The long-running story of Ascent Resources and its attempts to get permission to use a form of hydraulic stimulation in its gas fields in Petišovci has taken another turn, one that may have more success for the UK firm. The company announced on Friday that it will now use conventional drilling techniques to extract more gas, taking “advantage of the newly reprocessed Petišovci 3-D seismic survey to appraise new conventional targets", in the words of CEO John Buggenhagen, who took over management a few months ago. The company is also appealing the decision that prevents the use of hydraulic stimulation.
Ascent Resources’ non-executive chairman Louis Castro is also quoted as saying: "Over the next six weeks or so -- together with our partner Geoenergo -- we will be evaluating and prioritising potential shallow conventional oil and gas targets and associated well site locations.”
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