AusTex Oil Limited (ASX:AOK) Updates on Operations in Kansas and Oklahoma - Well Completions
Sydney, Nov 16, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) is pleased to provide the following update to operations in Kansas and Oklahoma.
Snake River Project - 6,000 acres Northern Oklahoma
AOK 100% WI ~80% NRI
ETU #15-4 - Production Testing
The well has now been completed for production following hydraulic fracture stimulation in two separate stages of the Mississippi Lime interval between 4,395 feet and 4,590 feet. 7,000 barrels of slick water was pumped into the formation during frac operations. A downhole pump and pump jack were fitted and the well has been pumping for 7 days at a rate of ~400 barrels of fluid a day to surface.
Initially the well produced a quantity of gas and frac fluid with 92 barrels of oil and a commercial quantity of gas produced during the last 48 hours.
Speaking from Tulsa, Richard Adrey, Executive Director commented, "Our engineers are encouraged by this early recovery with the rate of oil and gas production expected to increase over the next 7 days as further frac fluid is recovered. The fluid level in the well is just below surface and we will continue to monitor to ascertain if anincrease in the pumping rate will optimise oil and gas production".
The ETU #15-4 well is the first well to go into production of a planned 10 vertical well program to deliniate the Mississippi Lime formation. The data from the initial vertical well program will be used to finalise locations for horizontal development planned during calendar 2012.
ETU #14-5 Well
Hydraulic fracture stimulation on the #14-5 well has now been scheduled to take place during the week commencing 28th November 2011 after the Thanksgiving Holidays in the USA.
Mollhagen #8 - Ellsworth County, Kansas
3,520 acres AOK 50% WI 38% NRI
Castle Resources Inc., as operator, reports that the well has now completed for production from the Arbuckle Formation with a pump jack and storage tanks in the process of being installed. The well is expected to commence oil production by the end of November.
About AusTex Oil Limited
AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) is a Public Company listed on the Australian Securities Exchange (ASX) and the OTCQX.
AusTex is focused on exploration and development of oil and gas leases in the USA. The company produces oil and gas in Oklahoma and Kansas and is currently developing producing leases in both states with interests in 11,600 net acres of oil and gas leases in the Mississippi Lime Play. The Company has net production of circa 800 boe/day with Independent 1P reserves certified at 3.505 Million BOE with NPV10 of US34.8 million as at 31 December 2015.
US operations are based in Tulsa, Oklahoma, with an office at 1801 East 71st Street. International Energy Corporation (Oklahoma) is a wholly owned subsidiary and a licensed oil and gas operator in Oklahoma and Kansas.
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