Aztec announced the successful completion of its 22nd Olmos formation oil well in Medina County. Aztec continues drilling multiple wells under a farmout agreement with Texas Secondary (one of the largest producers of the Olmos formation in Medina County).
"We are benefiting from the newest technology in fracing Olmos wells while using the proven analytical process of full body coring. Additionally, we are also exploiting the Austin Chalk in the area with the objective of gathering detailed information to develop highly efficient and productive frac jobs for that formation as well. Being able to drill several hundred wells in a dedicated area allows us to control and manage cost and risk," stated Waylan Johnson, President of Aztec Oil & Gas.
Mr. Johnson went on to say, "When you can drill shallow, vertical oil wells in and around hundreds of wells that have been producing for 20-40 years, your predictability is very good. Controlling cost and having good data regarding the levels of saturation, and oil in place, for the formation stratas has allowed Aztec to achieve nice successes for itself and its partners. We anticipate that trend continuing as we have a significant number of proven drillsites available in the area."
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