Victory Energy Corporation reported completion results of the first well the Corporation drilled on the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas.
The work-over unit crew reports the well has excellent backside pressure of 500 psi and productive tubing pressure of 300 psi after preliminary swabs were pulled from the well. The tubing pressure buildup overnight provides strong indications the well is commercially productive in the average range of Canyon Sandstone gas wells whose initial production is 250,000 cubic feet of gas per day.
"We project to have flow test results run by Fesco on February 22, after they complete a single point flow test on the well. Every key indicator shows this well to be as substantial as the other producing wells on the Adams-Baggett Ranch. We are encouraged by the results of our drilling and production program, as this is a strategic step in the growth and long-term development of shareholder value," stated Jon Fullenkamp, President of Victory Energy Corporation.
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