Xtreme O&G Briefs Vertical Drilling Depth at Kansas Well
Xtreme O&G has reached a vertical drilling depth of over 3,000 feet on the Hoffman well in Kansas. Additionally, the specialized equipment is on site to begin the next stage of horizontal drilling and hydraulic fracturing. Hoffman is the first well to be drilled on the Company's 8,516 acre Kansas property. The Company owns a 15% interest in the Kansas property and is partnered with three other oil and gas companies, all of which reviewed the geological studies on the formations.
"Xtreme and its drilling partners continue to deploy state of the art technology to exploit oil and gas formations successfully throughout Oklahoma, Kansas and Texas," stated Willard G. McAndrew, CEO of Xtreme. "The Kansas property has previously produced 23 million barrels of oil and fits our profile of applying today's methods to properties with prior prolific production history, taking advantage of significant technological advances in oil recovery technology. Management anticipates that production may begin by early 2012 and we expect to successfully repeat this process on additional wells in Kansas over the coming months."