Lucas Energy, Inc. has completed the Hagen Ranch No.4H well in Gonzales County, Texas as a flowing horizontal oil well in the Austin Chalk formation. The official 24 hour test that will be reported to the regulatory agency is 475 bopd (barrels of oil per day, 232 MCFPD (thousands of cubic feet) of gas, and 103 BWPD (barrels of water per day - load water or drilling water, not formation water) with 419 psig (pounds per square inch) of FTP (flowing tubing pressure) on a 20/64" choke. Lucas has approximately a 25% working interest in this well.
Further testing indicated that the well is capable of producing 846 bopd, 422 MCFPD, and 264 BLWPD (load water) at 283 psig FTP on a 36/64" choke. This choke size is slightly greater than a 1/2" pipe, or approximately 60% of the full opening choke size. Indications are that the Hagen Ranch No.4H well may have a greater capacity curing the initial production period. Future production rates will be determined by technical information, safety, tank capacity, and other factors. At some time in the future, the well may be put on artificial lift. Specifically a pumping unit may be added.
William A. Sawyer, President and Chief Executive Officer of the Company, said, "The drilling and completion of the Hagen Ranch No.4H well opens a new chapter in the company history book."
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