Unbridled Energy Corp
From Wikimarcellus
Calgary, Alberta, Canada-based Unbridled Energy Corp. is a junior oil and gas exploration and production company. It set up an office in Sewickley, Pennsylvania near Pittsburgh and spent $500,000 leasing land in Tioga County, Pennsylvania. It was acquired by Altima Resources Ltd in February, 2010.
In June, 2008, Unbridled was reported with joint venture partner Equitable Resources, Inc. to have drilled three horizontal test wells in the Lower Huron formation in south central Ohio. The wells were drilled to a depth of approximately 1,800 feet and had horizontal laterals of 2,500 feet. Each was completed with either a 7 or 8-stage frac. As of July, 2008, the wells were in the process of being flow tested.
The company announced in December, 2008 that it had abondoned its Marcellus shale initiative along with an 8,000 acre leasehold because of economic conditions. It planned instead to focus on developing leases held in New York State.
It was reported in March, 2009 that Unbridled had drilled a 7,700 ft basement well to perform a stratigraphic test on the compnay's leasehold located near Chautauqua Lake in western New York. It was being drilled in cooperation with the New York State Energy Research and Development Authority's (NYSERDA) research project on testing deep horizons in Western New York. The company provided a May, 2009 update in which it announced it had successfully drilling this test well to a depth of 7,300 ft. The company was in the process of evaluating the core and logs.
The well was over a deep structure that had been identified with 2-D seismic testing. Through analyzing a suite of logs to determine porosity and permeability, Unbridled planned to evaluate core samples taken from Cambrian Potsdam and Theresa sandstone, Utica shale, and Trenton-Black River formations.
The company also planned to evaluate Devonian shale, 250 feet thick, found in an old worn-out Medina well on the property. In the event of success, the company owned 67 similar old wells. Many of those could be drilled horizontally and recompleted.
In the aforementioned May, 2009 update, the company announced that it had re-entered the Marcellus shale play through leasing 30,000 acres in northeast Pennsylvania. Unbridled was looking for a joint venture partner to help develop its Marcellus acreage.
- J. Michael Scureman is Unbridled's CEO.
- Joseph H. Frantz, Jr is the company's former President and CEO.
- Brad Holmes is its Investor Relations Consultant.
