Precision Petroleum Closes Acquisition of Producing Well in Oklahoma

Precision Petroleum has acquired a substantial interest in a very successful well which was recently completed in the Hunton Limestone. The well located in Seminole County is in the South Wewoka Field, SE/4, and Section 31-T8N-R8E. Heath #1 is adjacent to the Karsyn #1 well which has also been recently acquired. Heath #1 had attained maximum flow rates of 85 bbls per day and has now been cut back to approximately 30 bbls per day and 30,000 CFG/D.

These Hunton Limestone wells are known for their longevity while accruing substantial reserves. This well holds 40 acres which will allow one better to be drilled to the Hunton reservoir. The step out well will be drilled to test a possible Cromwell Sandstone which has a history of major reserve potential in this field.

Richard Porterfield, President states that the Karsyn and Heath wells plus the step out acreage opportunity give the Company a major boost for corporate plans to the development of reserves and future production.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
General Manager US
Expertise: Business Development|Executive|Technical Manager
Location: Houston, TX
Division Order Analyst - DJ Land Administration
Expertise: Business Analyst|Commercial Management|Landman
Location: Denver, CO
search for more jobs

Brent Crude Oil : $59.02/BBL 3.79%
Light Crude Oil : $52.22/BBL 3.07%
Natural Gas : $2.92/MMBtu 1.31%
Updated in last 24 hours