Torchlight to Commence Drilling in Marcelina Project

Source: www.gulfoilandgas.com 5/24/2013, Location: North America

Torchlight Energy Resources, Inc. ("Torchlight Energy" or "the Company") announced that Edde Drilling, the drilling contractor on their Marcelina Creek Project in Wilson County, TX, will spud the Johnson #2H well within the next few days. Torchlight expects the drilling process to take under 30 days and will move directly into completion after analyzing the drilling results.

"We are excited to enter this stage of the development on our Macelina Creek Project," stated Tom Lapinski, CEO of Torchlight Energy. "With the drilling of the Johnson #2H we continue to execute on Torchlight's mission to develop highly probable oil assets where quick payout on proven reserves can be achieved. This horizontal well will be the first of six laterally extended locations identified for drilling for this project and target the Buda formation."

The Marcelina Creek Project is located in Wilson County, Texas. The play involves the upper cretaceous formations including Austin Chalk, Buda, and Eagle Ford formations. Torchlight currently has two wells producing on the lease, one from the Buda Formation and a second horizontal Austin Chalk well. The lease is completely surrounded on all four sides by Eagle Ford producers from well-known companies such as Hunt Oil and Clayton Williams. Torchlight Energy has a 75% Working Interest in the majority of the 1,080 acre block with 50% WI in a 280 acre section.

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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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