CREDO Logs Pay at Northern Anadarko Shelf Acreage
Eighteen miles to the south in Ellis County, the Freeman #1-32 well is the third well drilled on the company's 1,280 gross acre Gage Prospect. As previously reported, the 9,125-foot well encountered 25 feet of Morrow sand. The well was recently connected for pipeline sales. The lower 12-foot zone has been fracture stimulated and tested. It produced at a stabilized daily rate of 875 Mcfg (thousand cubic feet of gas), three barrels of oil, and five to ten barrels of load water. A second 13-foot zone has recently been fracture stimulated and is currently producing up the casing at daily rates of 1.1 to 1.4 MMcfg, three to five barrels of oil and five to ten barrels of load water. Production from both zones is expected to be combined after testing of the upper zone is completed. The well is located about one mile northeast of the company's recently announced Skyler and Connor wells. CREDO owns a 30% working interest in the Freeman and 50% in both the Skyler and Connor wells. Additional drilling is expected on the prospect.
James T. Huffman, President, said, "Our Northern Anadarko Shelf acreage continues to yield good drilling results. Over the past five years, we have drilled over 70 wells on the acreage. Two of the most recent wells, the Skyler #1-6 and the Easterwood #2-23, appear to be among the best of these wells and demonstrate that the acreage continues to have excellent potential."
Approximately 30 miles to the north, the Owens #2R-21 is the fifth well on the company's 2,560 gross acre Buffalo Creek Prospect. The well is currently drilling at 6,400 feet and is projected to 6,900 feet. It is an offset to the company's Owens #1-21 discovery well which was drilled in mid-2004 and has produced 23,000 barrels of oil and 23 MMcfg from the Oswego formation. The Owens #2R-21 will test the Oswego, Morrow and Chester formations. CREDO is the operator and owns a 31% working interest. Additional wells are planned for the prospect.
After completion of the Owens #2R-21, the rig will move 13 miles southeast to drill the third wildcat well on the company's 4,500 gross acre Glacier prospect. The Ruby State #1-27 is projected for 7,550 feet to test the Morrow formation. As previously reported, the Glacier #1-34, located three-quarters mile to the south, found a Morrow channel system that contained superb sand quality and virgin pressure. The well produced at very high initial rates but pressures and production declined rapidly indicating that the sands are boundary restricted, most likely by faulting. The company's experience in the area is that high quality sands similar to those found in the Glacier #1-34 should extend over a much larger area within a channel system. The Ruby State #1-27 will attempt to extend the Morrow channel sands north from the Glacier #1-34 well. The company owns a 57% working interest and is the operator.
After the Ruby State, the rig will move seven miles to the southwest to drill the third well on the Rodeo portion of the Company's 14,000 gross acre Sand Creek Prospect. The Rosalee #2-9 will be drilled as an east offset to a recently completed Morrow and Chester producer. The well is projected to 7,800 feet and will test the Morrow and Chester formations. CREDO is the operator and owns a 26% working interest.
Huffman further stated: "We are also pleased with the progress on our new South Texas 3-D seismic exploration program. Several prospects have been identified and leasing is in progress. It is likely that one or two wells will be drilled on the project late this year."
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- USA Oil and Gas Job Figures Jump
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension