I think that is the Thrasher 1-1H well with Husky Ventures and Swedish Oil Investors. Their new well in School Land is reported to be doing better than Thrasher so far. Here is some information on 1-36H Stephens well which is a direct north offset to Thrasher.
Could this well be are 7.35% stake producing over 1000 BOEPD and one being fracked and brought into production early December
The Company's Boeckman 1-14H well is currently maintaining an average of 175 BOPD and 700 MCF of gas per day and has grossed more than $2 million in total well revenue over the first 90 days of production. Torchlight has ownership in an additional 6 wells at different stages of drilling and completion in the Hunton play with another 2 locations yet to be drilled and planned to be spudded this quarter. The newest producing well was put into production 3 weeks ago and is producing 733 BOPD with 669 MCF per day in gas. Production continues to increase as the well is cleaned up. Wells are expected to take approximately 60 to 70 days to reach optimal production before a normal decline commences.
The next well in this region is currently being fracked and should be in production by mid November. This well is an immediate offset to the over 1,000 BOPD producing well, which is Husky Ventures' biggest Hunton producer to date. Drilling of another new well has just been completed and the rig is currently being moved off with imaging data being processed. A frac procedure is scheduled to be performed in November and this well should be in brought into production by early December. Additionally there are three new wells currently being drilled on Torchlight's acreage with Husky and two more locations have been staked for this year.
The Paleozoic age Hunton Group is the primary target formation with numerous shallower objectives as well. The project area is nearly contiguous to the Cimarron project and leads to many operational efficiencies. Torchlight owns 15.3% working interest in 5,110 acres covering the Hunton Limestone development drilling project, Operated by Husky Ventures, Inc. Torchlight anticipates participating in an 5 to 6 horizontal Hunton Wells in the fourth quarter of 2013 as a result of this acquisition. The wells will be drilled to a total measured depth of 12,000 feet including 4,000 feet of lateral section. It is anticipated Torchlight will have a future participation option of 15% or more working interest in more than 50,000 total acres in the play.
Production rates are expected to be the same as Cimarron's at 300 to 1,160 BOPD and published reserves by Gastar, a working interest partner, are in excess of 460,000 barrels per well. An aggressive drilling program is planned using a two rig program beginning third to fourth quarter of 2013 and continuing for the next three years.
This project, and Cimarron, fit Torchlight's strategic plan of seeking opportunities in established plays, with competent operators, in exploitation projects with several potential pay zones and a working interest position that is meaningful to the bottom line.
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