Nostra Terra announced drilling has begun on the first horizontal well in the Bale Creek prospect, located in Oklahoma. The Company has a 30 percent working interest in the Bale Creek prospect, operated by Pathfinder Development Capital, LLC ("Pathfinder").
The well is the first of seven potential horizontal well locations. Drilling of the well is expected to be completed in approximately 30-days, followed by completion and initial production testing.
"With the first horizontal well on Bale Creek underway and quickly following on from the news from Warrior, we have two horizontal wells being drilled at the same time. We're happy to have the increasing amount of activity which we expect will translate into shareholder value," said Chief Executive Officer of Nostra Terra Matt Lofgran.
"The working interest partners have identified what we believe to be the most prospective of several potential objective horizons. The specialized sonic log has been integrated with our 3D seismic and we are now drilling, with the aim of completing the first of several horizontal wells with Pathfinder. We anticipate that the horizontal drilling will cut up to 3,500 feet of highly prospective reservoir rock. Completion of the well will follow very shortly and then we will go into production testing," added Chief Operating Officer Alden McCall.
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