The well encountered significant gas reserves. The Operator has now completed gas flow testing and the production test rate was approximately 283,000 mcf/day using a 6/64 choke. This well encountered pressures exceeding 800 psi. Stallion expects the production rate to normalize at 200,000 mcf/day. Reserves for this well are estimated to be 357,000,000 mcf .The well will be connected to the nearby pipeline and production will commence shortly. The company has now successfully drilled and completed 3 of its first 4 wells targeting the frio gas formation. The first well, the CMR-USA-39-14, was completed earlier this year and is on production.
Stallion has a 30% interest in approximately 200,000 gross acres of land in Mississippi.
The company plans to drill an initial 50 wells within the area of mutual interest (AMI). Over 7500 miles of 2D seismic and 250 square miles of 3D seismic have already been shot. Over 100 drill targets have been identified to date and drilling will occur throughout the year.
The drilling program is being conducted by Griffin & Griffin Exploration in its capacity as operator.
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