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Operational Update

13 Nov 2015 07:00

RNS Number : 5924F
Nighthawk Energy plc
13 November 2015
 

13, November 2015

 

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

 

Operational Update

 

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the Company's current year drilling program.

 

Drilling Update

 

The Happy Jack 7-10 well was spudded in late October and was drilled to a total depth of 8,400 feet. The well was drilled on an independent structure within the Monarch Joint Development Area. During the drilling of the well, oil shows were encountered in the Marmaton and Cherokee zones within the Pennsylvanian section. The Spergen formation was present in the Mississippian section of the well and had no oil shows. Open hole logs were run to evaluate the potential of the shows and it was determined that there were no zones in the well that would warrant the running of production casing and initiating a completion. Accordingly, the well is being plugged and abandoned.

 

The last commitment well under the Company's 2015 program, the North Star 1-14, commenced drilling on Thursday, 11 November. The well is permitted to a total depth of 8,900 feet and is designed to test a structure which appears to be consistent to the Company's Keystone 3-7 well which is located to the Northeast of the North Star well and is located in the Broken Spear field.

 

As a result of drilling results in the Monarch Joint Development Area, the Company's average gross daily production levels for the year are likely to be in the range of 1,700-1,800 barrels per day, lower than market expectations. However, the Company expects revenues to be in line with market expectations.

 

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

 

Enquiries:

Nighthawk Energy plc

Rick McCullough, Chairman 

+1 303 407 9600

Kurtis Hooley, Chief Financial Officer

+44 (0) 20 3582 1350

Westhouse Securities Limited

+44 (0) 20 7601 6100

Alastair Stratton

Robert Finlay

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLGGGWCGUPAPGP
Date   Source Headline
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11th Mar 20087:01 amRNSHalf Yearly Report
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10th Oct 20077:01 amRNSDevon Update and Acquisitions
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7th Aug 20072:57 pmRNSAIM Rule 26
31st Jul 200710:47 amRNSTotal Voting Rights
27th Jul 20077:01 amRNSDirector/PDMR Shareholding
26th Jul 20077:01 amRNSHolding(s) in Company
25th Jul 20074:24 pmRNSIssue of Equity
24th Jul 20077:00 amRNSDevon Oil Field Update
20th Jul 20077:00 amRNSHolding(s) in Company
19th Jul 20073:44 pmRNSHolding(s) in Company
17th Jul 20077:00 amRNSCisco Springs Project Update
6th Jul 20077:01 amRNSIssue of Equity
2nd Jul 20077:01 amRNSAcquisition
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28th Jun 20073:41 pmRNSTotal Voting Rights
19th Jun 20077:01 amRNSAcquisition - Jolly Ranch
8th Jun 20072:46 pmRNSIssue of Equity
8th Jun 200712:41 pmRNSHolding(s) in Company
7th Jun 20073:31 pmRNSAcquisitions and Placing
5th Jun 20077:02 amRNSNightfox Formation and Acqn
31st May 20077:03 amRNSDrilling and Project Update
30th May 20075:08 pmRNSHolding(s) in Company
29th May 20077:02 amRNSCisco Springs Update
22nd May 20077:02 amRNSBLM Approval
16th May 20077:01 amRNSVogel Bartlesville Update
2nd May 20077:01 amRNSVogel Bartlesville Update
30th Apr 20075:03 pmRNSHolding(s) in Company
16th Apr 20077:01 amRNSCisco Springs Project Update

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