Texon has advised that the latest Leighton Olmos vertical production well, Peeler #3, has begun to flow oil and gas at the combined rate of 370 boepd from the Olmos reservoir (comprising 325 bopd and 268 mcfgpd). This is the ninth well targeting the Olmos reservoir in which Global has a 15% working interest (11.25% net revenue interest).
This is a good result as the closest three Olmos production wells, Peelers #1 and #2 and Tyler Ranch #5 tested at initial rates of 170 to 445 boepd.
The well will be connected for production to oil tanks and the gas pipeline in the next two weeks.
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