Torchlight Energy Resources Inc. received and reviewed scientific test results on its University Rich A-11 well in the Orogrande prospect, the company said July 13.
Halliburton and other third parties conducted the initial tests. Halliburton conducted most of the log suites, and SCAL conducted sidewall core testing and analysis.
Torchlight’s management developed the geostatistical model for Orogrande using a checklist of unique characteristics. This scientific model will be used for future reservoir simulation and wellbore correlation.
Will McAndrew III, COO, said that the company thinks it has identified a significant new oil discovery in Texas. The next phase of testing, he said, will be adding vertical wells and horizontal wells to measure the play’s extent, flow rates and reserve potential, respectively. The company has a 95% working interest in 168,000 acres, he said.
McAndrew III also said that additional capital will be needed, and potential joint venture partners are being consulted. The area’s “similarities to the Midland Basin portion of the Permian, and in particular the Spraberry/Wolfcamp zones, is unmistakable,” he added.
Plano, Texas-based Torchlight Energy Resources Inc. operates in the Eagle Ford, Mississippi Lime and Hunton plays.
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