Initial field flow rates for the #1 well were 100,000CFGPD/ 24BOPD and 500,000CFGPD/ 30BOPD for the #2 well. The third well, the Aztec Guthrie #3, which is drilled to a deeper formation, is presently being swabbed and showing very favorable oil and gas production from the lower formation.
The shallower formation, from which the #1 and #2 wells will be produced, is significantly present, uphole, in the #3 well. Through-spud drilling of the fourth well in the eight well series has started.
Aztec is in a drilling venture in Brown County under which it owns 51% of the mutual interest wells being drilled in the area. The venture has thousands of acres available to drill and Aztec anticipates being in the area for many years.
Waylan Johnson, president of Aztec, said: “Being able to drill wells less than 2,000ft and see such strong results places Aztec and its drilling partnerships in a very favorable economic position. The ability to find two-five potentially productive pay zones at a total depth under 2,000ft further supports the Aztec drilling partnership model for drilling shallow, low cost wells.
“Although Aztec’s primary focus is oil, finding this kind of combined gas production at these depths, and possibly coupled with the potential of an end user contract, allows Aztec and its partnerships to benefit on a dual basis from each well.”
