Caza Oil & Gas, Inc. a U.S. focused exploration, appraisal, development and production company, announced Thursday tests on its Caza McMillan #1 well in Wharton County, Texas, show gross, initial production rates of 1.375 million cubic feet of natural gas, 57 barrels of oil and 29 barrels of water per day on a 16/64ths inch choke on November 20, 2011.
The well was perforated at intervals between 9,692-9,704 feet and 9,714-9,716 feet, then fracture stimulated. The well is still recovering frac fluid and is expected to be online at the sales point within the next 10 days. Re-entry to the well was done to test the Yegua 9,650 sands.
"We are pleased with the results of the Caza McMillan #1 operation. This new well is producing at expected levels and will quickly add to our current cash flow and production levels. We look forward to continuing this trend through the development of our currently producing assets and the continued drilling of our diverse project inventory beginning in the near future," Caza CEO W. Michael Ford said.
Caza currently has a 42.53 percent working interest and a 31.05 percent net revenue interest in the Caza McMillan #1 well.
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