Lexington Resources Completes Oklahoma CBM Gas Well

Pittsburg County, Oklahoma
(Click to Enlarge)
Lexington Resources reports that well completion is proceeding on the Company's Kyndal #2-2 Coal Bed Methane ("CBM") gas well located on its Wagnon lease located in Pittsburg County, Oklahoma. Well completion follows the successful drilling of the horizontal gas well to vertical depths of approximately 2,200 feet with an 1,800 foot horizontally drilled section. Initial production rates, gas quality, and other available data from initial expected production will be provided when available. The objective gas reservoir target on the Wagnon lease is the Hartshorne Coal located in Oklahoma's prolific Arkoma Basin.

The Company's operating subsidiary will "back-in" to a residual 53.2% working interest in net proceeds on the all company wells located on the Company's Wagnon lease once capital repayment is complete. A third well, the Bryce #3-2, is scheduled to follow the drilling of the Kyndal #2-2 immediately after well completion. A total of four to five horizontal CBM gas wells are planned on the Wagnon lease.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.49/BBL 1.02%
Light Crude Oil : $49.04/BBL 0.59%
Natural Gas : $2.97/MMBtu 1.71%
Updated in last 24 hours