The existence of a substantial gas play in Northern Spain has been discovered after the assessment of drilling and test data gathered from 14 wells drilled over the last 50 years or so.
The wells reached into the Cretaceous shale, but only three wells drilled through the entire section, according to Oil and Gas Journal. The drilling of these wells resulted in the discovery of a midrange resources which independent sources estimated had 200 trillion cubic feet of gas absorbed in the shale and gas free of the shale.
Various companies are planning on drilling the first two appraisal wells for the shale formation in 2012, the media outlet reports.
George Yates, president of HEYCO Energy, told the media outlet that the two appraisal wells will drill to a depth of between 15,000 and 17,000 feet.
He added that up to two-thirds of every wellbore used will puncture the targeted formation.
If the play is productive, it will create jobs and investment in the area, according to the media outlet.
The Energy Information Administration recently released a report containing estimates on the amount of technically recoverable shale gas contained in various countries. Spain was not included on the list as a country having significant shale deposits.