Activa Resources AG
Activa Resources AG puts successful seventh horizontal well at OSR-Halliday on production
Activa Resources AG / Key word(s): Drilling Result Activa Resources AG puts successful seventh horizontal well at OSR-Halliday on production – 7th OSR-Halliday horizontal well on production at up to 700 BOED – 8th well currently drilling ahead in the lateral section Bad Homburg, 5th September 2014. Activa Resources AG, an independent oil and gas producer, provides initial details of its latest horizontal well to go on production at its main oil and natural gas project OSR-Halliday Unit in East Texas. The 7th horizontal well (105-6H) spudded at the end of May 2014 and has been drilled to a total measured depth of 14,613 feet in the targetted Woodbine formation with a 5,403 foot lateral. The well was fractured in 23 stages in mid- August has been on production since August 26th. Under controlled flowback the producing rates have steadily increased and the well is now consistently producing 600 BOED, with peak rates of 700 BOED. The hydrocarbon flow rate currently comprises 90 % oil and 10 % natural gas and natural gas liquids. To date the well performance has fully met the company’s expectations. Activa has now put 7 horizontal wells in a row on production at OSR-Halliday. The results again confirm the potential of the Woodbine formation. Activa’s CEO Leigh A. Hooper adds: “This is another excellent result – especially considering the fact that the horizontal section of this well is approx. 1,000 feet shorter than planned. Furthermore, the oil cut is unusually strong given the fact that at the present time only 8 % of the load water has been recovered.” Development of the OSR-Halliday field is set to continue with the 8th well set to be fracture stimulated and put on production in the coming weeks. The well is currently drilling ahead in the lateral section. The Management Board About Activa Resources AG Forward-looking statements Company contact Investor Relations contact 05.09.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
285653 05.09.2014 |