The test well, located in the Cado Pine Island Field of northwest Louisiana, was producing 1/4 barrels per day of oil in an Annona Chalk formation. Four laterals were drilled over two days at depths of approximately 1,400 feet using the patented Verdisys lateral drilling technology. The laterals were jetted to horizontal distances of up to 250 feet.
Initial production after lateral drilling in September was approximately 27 barrels of oil per day. Gas was not measured, but was estimated at 10,000 - 12,000 cubic feet per day. As of December 2003, production reports continue to show a consistent yield of about eight barrels of oil per day. Dan Williams, Verdisys' Chief Executive Officer, stated, "Results such as the Cado Pine Island test well are not only impressive, but we believe that many of the existing wells across North America can show similar results. These increases are indicative of the success of our patented lateral drilling technologies in recovering reserves using existing wells rather than drilling new vertical wells."
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