PYR starts drilling on Wyoming acreage

Allen Baker

Petroleum News contributing writer

PYR Energy Corp. (PYR-Amex) has started drilling at the company’s Mallard prospect in southwestern Wyoming, the company said July 19.

PYR, based in Denver, will have a 28.75 percent working interest in the initial well and all subsequent wells on the prospect nine miles northeast of Evanston, if the well is completed. The No. 1-30 Duck Federal well is targeting the Mission Canyon formation at about 14,500 feet, with total depth expected in about 90 days.

The Mission Canyon formation has accounted for 93 percent of production from the Whitney Canyon-Carter Creek field to the north of the prospect, according to PYR. That field was discovered in 1978 and is still producing.

PYR has access to 4,160 acres within the Greater Duck AMI. The company didn’t say what entities held the remaining working interest.

For the quarter that ended May 31, PYR had a net loss of $391,890.