Lonestar Resources Ltd. (ASX: LNR) has provided an update on its initial successes in its drilling and completion activities in the Eastern Eagle Ford Shale play, including initial production tests from its first two completions which average 738 barrels of oil equivalent per day (95% crude oil and NGLs). These results provide confidence in the company's forecasted 2014 exit rate of 6,500 to 7,000 BOEPD, and suggest increases in proved reserves from the Eastern Eagle Ford Shale trend at year-end 2014.
As budgeted, Lonestar has drilled and completed five horizontal wells in Brazos and Burleson Counties during the third quarter of 2014. The first two of these wells have been drilled, completed, fracture stimulated and were placed on flowback on September 23rd.
The company is based in Fort Worth, Texas.
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