Friendly Energy All Smiles Over Operational Transition
Friendly Energy Exploration announce that the company continues to make significant operational progress as it moves from a development company to a production company. The company now has three wells pumping and one flowing producing 22 barrels a day. This milestone was accomplished by mobilizing its newly acquired 6000 foot work over service rig to service three oil wells: the South Thrifty Thompson, Panther 3A and Panther 3B. The rig has now been moved over to the Panther 4A where the pipe and rods will be replaced and the hole swabbed. The company expects to service another three oil wells this week and have the Panther Creek lease in full production.
Additionally, the company also took delivery of the chemicals required to start up the gas sweetener on the South Thrifty field. This will allow the company to turn on 15 gas wells and put this gas production on stream. The company will report on this production in the coming weeks. Doug Tallant, President of Friendly, stated, "This is a very exciting time for Friendly Energy. We are now in production from our Panther Creek lease and we are completing our new tank farm on the Byler lease. We will move our service rig over to the Byler next week and start production there. The gas wells on South Thrifty are being turned on this week and we have two crews working six days a week. The hard work and expense of building our infrastructure in the last three months will now result in the company building its daily production very rapidly."
- Friendly Energy Boosts Production in Tx. (Apr 21)
- Friendly Energy Opens Arms to Repurchase Stock (Apr 07)
- Friendly Energy All Smiles Over Operational Transition (Mar 31)