Lux Energy Doubles Expected Production Results
Lux Energy reported that the "B" well they are currently negotiating blew over double what was anticipated.
The well drilled to 1900 meters bottom hole gas zone "Glauconite." This well was opened up and blew in at 580,000 mcf at 1000 psi with 9/bbl fluids recovered within the first hour. This well blew in at 1 million mcf initially and blew 11 years ago after the 10 ton fracture.
"The flow tested for a day and shut in. We believe the initial fracture was squeezed out by the formation pressure. The program calls for a 20 ton fracture and we believe this well will produce at around 500,000+ mcf, double what we had originally estimated," said Shane Broesky, President of Lux Energy Corp. "This will double the production figures and create a substantially larger revenue stream."