Torchlight Executed Contract on Johnson #2H Well

Source: www.gulfoilandgas.com 5/1/2013, Location: North America

Torchlight Energy Resources, Inc. is pleased to announce the executed contract for the AFE on the Johnson #2 well in the Marcelina Creek project in Wilson County, TX. The permit has been issued, and the drill site is being prepared.

The previous Buda well drilled in the project was a vertical test and that well is currently producing. However, based upon the recent successes of companies like Dan Hughes, Sage, Crimson, Goodrich, and others, who have successfully completed and announced excellent horizontal Buda discoveries, as well as the excellent Buda shows we have in our logs, Torchlight and its partner Bayshore Operating have elected to drill this well, the Johnson #2H, as a horizontal Buda. The horizontal leg of the Johnson #2 is slated to be 2400'. Upon completion, we will also have Eagle Ford and Austin Chalk reserves behind pipe in the Johnson #2. The reserves on the block are completely surrounded by Eagle Ford producers from Hunt Oil and Clayton Williams. The additional reserves behind pipe only increase the value of our acreage.

Management Comments
"We are very excited about continuing our development plans in Marcelina Creek," stated John Brda, President of Torchlight. "The Johnson #2H will be our first horizontal Buda test and we are looking forward to the results. By all indications, by going horizontally out 2400', we should encounter many more natural fractures, than we would by drilling a vertical hole. The more fractures we encounter, the more likely we are to have excellent results."

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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