facebook
twitter
search
search

Polish shale gas future bright for BNK Petroleum

Feb. 25, 2014 at 6:42 AM

CAMARILLO, Calif., Feb. 25 (UPI) -- BNK Petroleum President Wolf Regener said Tuesday he was "very excited" about the results from a Polish shale natural gas operation.

BNK, which has headquarters in California, said the 285,000 acres it controls in Poland have "good potential to produce natural gas." It said Tuesday exploratory drilling results in the Gapowo B-1 well were positive and the company was anticipating a production test later this year.

"In Poland, I am very excited that we have confirmed our original discovery in the Gapowo B-1 vertical well," Regener said in a statement.

The company said a separate 285,000 acres has the potential to produce natural gas, but has a "higher associated risk."

New drilling technologies like horizontal drilling and hydraulic fracturing, dubbed fracking, are used in shale deposits to access oil and gas reserves previously out of reach. That helped put the United States in a leadership position in terms of production of those resources.

Poland is one of the Eastern European countries thought to be rich in shale gas, though the U.S. Energy Information Administration said optimism has waned because of "unsatisfactory exploration results."

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Hess completes Bakken joint venture
Brazil orders search-and-rescue aircraft
Whole Foods apologizes for overcharging customers
BP settles with U.S. coastal states for $18.7 billion