Caza Hits Paydirt at Onshore Lucky Penny Well
Caza Oil & Gas has announced a hydrocarbon discovery in the Abo/Wolfcamp horizontal oil play in New Mexico, USA.
The Lucky Penny 10 State #1 horizontal well in Lea County, New Mexico is Caza's initial well in the play. The well was drilled to a total measured depth of 10,571 feet. The horizontal section was fracture stimulated and a production pump has been installed. Details on flow rate will be provided once fracture fluid has been recovered and oil production has stabilized. Caza has a 12.5% carried working interest in the Lucky Penny well and a net revenue interest of 9.375%.
Other participants in the well include: Endeavour International Corporation with a 56.25% working interest and 42.1875% net revenue interest; and Wise Oil & Gas No. 8, Ltd. with a 31.25% working interest and 23.4375% net revenue interest.
Mike Ford, CEO and President of the Company, commented, "We are very pleased to have a discovery with our first well in the Abo/Wolfcamp horizontal oil play. We hope to report encouraging news regarding flow rate in due course."