JayHawk reported that both wells drilled recently on its Crosby North Dakota oil property have been equipped and are now on production. The initial well drilled on the Knudson location is currently making oil at 3-8 BOPD (barrels of oil per day) with some water. "We are encouraged by the oil production, but disappointed in the lower than expected fluid rate from the Knudson well and are looking at several remedial options to increase that rate and the associated oil production to bring this well in line with the test rates achieved after the well completion," said JayHawk President, Marshall Diamond-Goldberg.
The second well, the Jenks #1 is making a significant volume of water. The Jenks location is expected to start making oil as the fluid level in the well bore continues to be drawn down by pumping at higher rates. Testing indicated high overall fluid volumes, likely the result of encountering natural fractures in the reservoir during drilling. "With the higher fluid volumes, we expected to encounter a higher percentage of water. We believe that the well should begin making oil in the near term after additional pumping," said Mr. Diamond-Goldberg.
Despite the close proximity of the two wells (500 feet apart) and our other producing wells, their fluid rates have been very different. The Jenks is capable of producing over 200 BFPD (barrels of fluid per day) while the Knudson is producing less than 20 BFPD. "These differences in the two wells demonstrate the very changeable nature of the reservoir from well to well; however, we feel confident that both wells will contribute to JayHawk's production base for many years to come," said Mr. Diamond-Goldberg.
The company will continue to monitor the wells, determine remedial procedures and begin to identify the next several drilling locations on its developing oil asset.
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