The company owns a 10.35% interest in the well and a 2% override interest in the entire 1,400 acres of the Mustang Island 818 Lease position located in the Gulf of Mexico.
Worthington Energy president and CEO Tony Mason said that the initial flow rates from the I-1 well are good.
Shut in tubing pressure and flowing tubing pressure are in ranges of 4,150 psi and 3,150 psi respectively.
"As anticipated, the I-1 well has begun what I would describe as the clean up phase. In this phase, the various Loss Circulation Materials (LCM) and drilling mud that were utilized during the drilling of the I-1 well are beginning to be forced out of the well bore by pressure from the oil & gas flow being produced," said Mason.
"We are currently opening the well up only for day-time production under supervision from our contract operators, The Wood Group."
"During these daytime production sessions, we have experienced consecutive days at the above pressures and are currently producing at an extrapolated flow rate of 250-350 MCF gas and 202 BOPD respectively.
The company said by the end of the week the well will be turned for a complete 24 hour operation cycle.
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