The well was plugged back to a depth of about 4,345 – 4,355 feet in the Delaware (Ramsey) producing interval after an unsuccessful attempt to produce from the deeper Cherry Canyon formation. The company owns 50.2% (net revenue interest of 37.63%). working interest in the well.
The Carpenter #1 well is situated 1.6 miles west-northwest of the company’s Mexco Steelhead #1 well on a 100 acre drilling and spacing unit in Loving county. This property was obtained in July 2008. Mexco Energy has no present plans for drilling further wells in the immediate vicinity.
The rates at which this well will be produced and sold have not yet been determined and may be considerably differ from these potential tests, based on regulatory and engineering considerations in addition to performance of the well over longer periods of time.
