Freedom Oil and Gas Limited
(ASX:FDM) has announced it signed a contract with US drilling service company, Patterson-UTI Drilling Company LLC, for the drilling of two wells in the Eagle Ford shale in Texas.
The oil and gas business says the two wells will be drilled on Freedom’s newly acquired 8,000 acres, in Dimity County in South Texas.
Patterson-UTI Drilling’s rig is currently drilling about 50 miles from Freedom’s acreage.
Freedom Oil and Gas says there has been many successful wells drilled in the area where they will commence initial drilling.
Freedom Oil and Gas Limited
(ASX:FDM) reported a net loss of $54.61 million 30 June 2016.
