The well was perforated and swabbed at hourly rates of oil flow in keeping with the company’s original estimates of over 200 barrels per day. The company believes that based on the completion results and recent seismic data, the find represents a discovery well in a new reservoir at Rooney.
The company said that natural gas associated with the pay zone will necessitate the installation of a gas separator and hook-up to a gas pipeline located less than one mile away. Currently, the gas flow is estimated at between 70 to 80MCF per day which will generate additional income from the well.
Rods are being positioned in the well for the construction of the tank battery, mounting of the pump-jack and installation of gas lines for hook up. The company and operator plan to expedite all arrangements towards the commencement of oil and gas production currently slated for January 1, 2010.
The Rooney Project is located in southwestern Ford County, Kansas 20 miles due south of Dodge City and totals 5,120 acres adjacent to the north edge of existing Morrow Sand oil and gas production.
The initial discovery well, #24-1 Double H is anticipated to begin production at rates over 200 barrels per day. After a review of the 3D seismic data in conjunction with the electronic logs, the potential barrels of oil associated well and oil pool is currently estimated at 500,000 barrels.
The company and partners have developed a minimum of five target locations to drill that could enable it to add five additional wells to its portfolio by the end of the third quarter of 2010.
