Rockefeller Hughes Corp. (TSXV: RHC) announced Dec. 15 the successful completion of operations on its Pryor 1H Well targeting the Buda/Georgetown formations in East Texas.
The well flowed at an average rate of 315 barrels per day (bbl/d) of oil over the first 48 hours on a 48/64-inch choke with a 170 pounds per square inch (psi) flowing tubing pressure, the Toronto-based company said.
In addition the well flowed 130 bbl/d of load water over a 48 hour period. The flow rates should still be considered preliminary in nature, as much work remains over the next few months in order to stabilize production and maximize production rates.
The successful completion of the well, which was drilled in November, has been performed within the estimated cost of construction.
The well is part of the Halo Project in East Texas that covers 10,105 net acres in the Buda/Georgetown formations and 2,659 net Eagle Ford acres.
The company completed an exchange agreement with its Halo partner in November to acquire 95% of the Buda/Georgetown rights and retain 25% of the Eagle Ford rights. It also received additional acreage, a producing well and cash consideration, according to a company presentation.
Recommended Reading
Beach Town Corpus Christi Grows into America’s Top Energy Port
2024-01-16 - The Port of Corpus Christi is the U.S.’ largest energy export gateway and in terms of total revenue tonnage as increased midstream investments have opened export markets for the prolific Permian Basin.
Prairie Operating Acquires More D-J Basin Assets for $94.5MM
2024-01-15 - Houston-based Prairie Operating Co. is scaling its D-J Basin footprint with a $94.5 million acquisition of Nickel Road Operating LLC.
Trio Petroleum to Restart McCool Ranch Oilfield
2024-01-07 - California’s Trio Petroleum plans to restart oilfield production at McCool Ranch, where six wells that previously reached a production peak of 400 bbl/d.
Activity Offshore Norway Expected to Remain Steady in 2024
2024-01-11 - The Norwegian Offshore Directorate provided updates on 2023 activity, including 14 wildcat discoveries and eight projects going online and urging exploration in frontier areas.
E&P Highlights: Jan. 12, 2024
2024-01-15 - Here’s a roundup of the latest E&P headlines, including an SLB-Nabors collaboration and new contract awards.