Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Rio Bravo Drills First Horizontal Well in Texas

change text size

Rio Bravo Oil, Inc. announced Thursday it has completed drilling its first horizontal Edwards formation well, the DG Tiller #4H. The well demonstrated the presence of hydrocarbon during drilling and has the potential to produce approximately 150 barrels of oil per day and to cumulatively produce up to approximately 250,000 barrels of oil. The well is located within the Salt Flat Field, in Luling, Texas. Well completion will conclude this week, and the well will be placed on production. The company estimates that it will be able to determine the optimal production level of the well within 30 days.

The Company also equipped and put into production four inactive Austin Chalk wells. These wells are each producing several barrels of oil per day, and following a review period the Company will determine their stabilized production and expected cumulative production. Lastly, the Company is in the process of testing for additional reserves in the DG Tiller #3H. Following results from its current capital projects, Rio Bravo believes that it will be able to increase its stated reserve position.

"We have taken the important first steps. Our first horizontal well was drilled in zone and has good contact with the upper Edwards formation. We remain focused on delivering shareholder value. Obtaining production from our recent efforts should strengthen the value of our overall reserve position," Rio Bravo's CEO Tom Bowman commented. 

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Most Popular Articles
From the Career Center
Jobs that may interest you
Experienced Rock - Drill Mining Mechanic
Expertise: Field Service Tech, Mechanic, Rig Mechanic
Location: Elko, NV
 
Assistant Driller
Expertise: Driller
Location: Amelia, LA
 
Rig Assistant
Expertise: Driller
Location: Bakersfield, CA
 
search for more jobs