Lost Soldier Launches Wild Mustang Phase 2 Drilling, Targeting a Well Depth of Approximately 5,800 Meters

en.Wedoany.com Reported - On September 18, Lost Soldier Oil & Gas launched Phase 2 drilling at the Wild Mustang natural gas project in Wyoming, with the spudding of the third well, GMF-5. The well is planned to be drilled to approximately 19,000 feet, equivalent to about 5,800 meters, with the goal of testing a new overpressured gas zone beneath the formations identified in the two Phase 1 wells and further evaluating the two deep high-pressure target zones, the Niobrara and Frontier. According to the project schedule, drilling and downhole operations at GMF-5 are expected to last approximately 60 days.

Wild Mustang is located in the Bison Basin in central Wyoming, part of the Green River Basin system. Phase 1 of the project has completed the drilling of two wells, Found Soldier #1 and Green Mountain #4, which together confirmed approximately 3,400 feet of stacked gas-bearing intervals covering five main zones. Lost Soldier currently estimates the potential natural gas resources corresponding to the two Phase 1 wells at approximately 5 trillion to 6 trillion cubic feet, and GMF-5 is intended to further verify the resource potential at deeper levels.

Surface facilities for the project are also advancing in parallel. Lost Soldier plans to connect the three wells to an approximately 5.3-mile, equivalent to about 8.5-kilometer, connecting pipeline and tie into the existing regional natural gas pipeline network. The existing pipeline system in the vicinity of the project has a transmission capacity of approximately 400 million cubic feet per day, and surveying for the connecting pipeline, construction preparation, and installation of related supporting facilities are already underway. The project aims to commence first commercial natural gas sales in the fourth quarter of 2026 after completing the necessary development and operational preparations.

The Wild Mustang Federal Unit currently comprises 56 lease blocks covering approximately 24,000 acres. The project company also controls more than 12,000 acres of leased acreage outside the unit area and holds subsequent development rights over approximately 250,000 acres of mutual interest area. Lost Soldier has obtained operator qualification for the Wild Mustang Federal Unit, and its subsidiary Wild Mustang Midstream is advancing the construction of the connecting pipeline.

This Phase 2 drilling represents a development milestone advanced on the basis of Phase 1 resource verification. Lost Soldier and Upland Resources established a partnership in November 2025, and Upland has since participated in the Wild Mustang development through investment and option arrangements. The current project work priorities already cover deep resource verification, drilling of the third well, and construction of the export pipeline, with the next milestones including the completion of drilling and testing at GMF-5 and the first natural gas entering the regional pipeline network.