Rock Energy Recompletes Pintail-1 in Garwood Field
Rock Energy Resources has successfully recompleted the Pintail-1 well in the Upper Wilcox, located in the Garwood Field in Colorado County, Texas. The well has achieved an initial flow rate of 300 million cubic feet on a 7/64 inch choke with flowing tubing pressure of 1650 psi.
Estimated cash on cash payout of Pintail-1 is an estimated 21 days. The Company has budgeted $2.1 million for Wilcox recompletion activities through yearend. The 2009 budget, providing for all Wilcox drilling activities in South Texas, is $14 million.
On May 20, 2008, Rock Energy reported that it assumed operatorship of the Garwood Field after acquiring certain additional working interests in the Wilcox trend underlying the project. At that time, in-depth technical evaluation of possible well recompletions was implemented by the Company with an objective of identifying recompletion opportunities that might have been overlooked by the previous operator.
The Pintail-1 well is the first of three possible wells identified and prioritized for recompletion prior to the end of the year. Up to five additional development locations have also been identified with drilling on these potential sites expected to commence in 2009. As previously announced, proven, probable and possible natural gas reserves in the Garwood project are estimated to exceed 40 billion cubic feet.