Striker has completed the installation of its 4 mile pipeline to connect its gas production from its Catfish Creek Prospect. The company expects to complete the pressure testing phase and final mechanical hook-up within the next 7-10 days and expects to begin producing gas at that time.
Striker has gas production that is shut-in from its existing three un-stimulated wells and is expected to have significant additional gas production as it continues to development of this prospect. Striker will own a 25% interest in the pipeline.
This prospect consists of over 9,000 gross acres with depths earned to 100 feet below the base of the Pettet formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately a 33% working interest before payout (25% after payout) on the shallow target of this prospect.
"We are very pleased to have this beneficial component of our Catfish Creek prospect completed," said Kevan Casey, Chief Executive Officer of Striker. "We will now be able to stimulate and complete the shut-in wells and will begin producing at full capacity within a very short period of time."
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