U.S. Petroleum Logs Pay at First Redfork Well
U.S. Petroleum announced the successful drilling of the first well (County Line # 1) on its Redfork prospect in Oklahoma. The well is scheduled for completion this month. Drilling of the second well (County Line # 2) on the Redfork prospect is expected to commence in March this year.
The first well (Shepherd # 1) on U.S. Petroleum Corporation's Senora prospect in Oklahoma has been completed successfully. The second well (Rivera # 1) on the Senora prospect is scheduled to be drilled next month.
U.S. Petroleum Corporation owns overriding royalty interests ranging from 1.25% to 7.5% in the leases comprising the Redfork prospect and a 5% overriding royalty interest in the leases comprising the Senora prospect.