MCF Energy Plans First Wells in Germany and Austria, Eyes Domestic Gas Production
-
MCF Energy is planning to drill its first two wells in Austria and Germany, moving forward with two discovered gas fields and exploration prospects.
-
MCF acquired a German company that came with over a dozen high-potential prospects at a time when Germany desperately needs its own natural resources.
-
The first drill in Germany will be a re-entry of a well originally drilled by Mobil that tested at over 24 MMCFD of gas flow rate but was abandoned as uneconomic.
-
MCF acquired 100 square kilometers of 3D seismic data and is using AI and machine learning to identify new drilling targets not visible with traditional methods.
-
If drilling is successful, MCF sees potential for multiple development locations and the possibility to become a major supplier of domestic natural gas in Germany.