HyperDynamics Places Deville 1 Into Production
HyperDynamics Corporation announced that its first well on the newly acquired 264-acre Deville lease in the North Big Island field in Rapides Parish, Louisiana has been tested and placed into production. In the results of the "Potential Test" conducted by the State of Louisiana Department of Natural Resources, the well flowed without artificial lift at a rate of 80 barrels of oil produced daily (BOPD) and 20Mcfd of natural gas with no water.
Hyperdynamics, through its domestic subsidiary Trendsetter Production Company, owns an 85% working interest in the Deville lease. With the ongoing success of this well, the Company expects to realize an increase of several hundred thousand barrels of proven reserves. Additional targets in this field and others are being evaluated for continued development.
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