Petroflow Cites Production Increases for June
The estimated peak production rate for the month of June 2009 was 4,510 BOEs (27,060 McfGEs) per day. June 2009 averaged approximately 4,252 BOEs (25,512 McfGEs) per day of production. Our average production for the month of June has increased by 120 BOEs per day over May volumes. No additional wells were put on stream. Approximately 41% of the production was oil and natural gas liquids (NGL) and 59% was natural gas.
"Our production volumes continued to rise in June. We are very pleased that our average daily volumes are up over our May performance," stated Sandy Andrew, President COO.
John Melton, CEO, said, "Our focus continues to be the Hunton Resource Play in Oklahoma. Our Hunton drilling program has proven to be successful for us and our production performance continues to meet our goals."
The Hunton Resource Play in Oklahoma has an aerial extent of approximately 16 million acres. Assuming 10% of the land has quantities of petroleum potentially recoverable from undiscovered accumulations by application of future development projects, the prospective resource could be as high as 6.2 Tcfe.