Striker Spuds Catfish-3 in East Texas
Striker Oil & Gas has commenced drilling on the Catfish-3 well on its Catfish Creek Prospect located in East Texas. The well is the third well drilled by Striker in the Catfish Creek Prospect and the first well of a three well continuous program to exploit the Pettet and Rodessa formations found in the two successful wells previously drilled by Striker.
The Catfish-3 well will be drilled to a depth of 10,800 feet and is expected to reach total depth within 30 days.
This prospect consists of over 9,000 gross acres with depths earned to 100 feet below the base of the Pettet formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately a 33% working interest before payout (25% after payout) on this prospect.