LONDON (Alliance News) - Highlands Natural Resources PLC on Wednesday said six new wells on the East Denver shale oil and gas project in Colorado have been completed, with flowback starting on three of the six.
The existing Powell well has started production, and the Wildhorse well is being prepared to resume production in the near future.
Data from the three new wells Buckskin, Grizzly and Ouray have indicated that these wells should perform in line with the existing wells drilled by Highlands.
In addition, flowback from the remaining new wells, Thunder, Citadel and Hagar is expected to start in the next two weeks; however the timing is subject to change due to extreme cold weather at the location, the company said.
Shares in Highlands Natural Resources were down 1.0% at 10.79 pence on Wednesday.