BNK Petroleum said that it has drilled and cased the Brock 4-2H well at the Caney shale oil acreage in the Tishomingo Field located in the SCOOP region in Oklahoma.
Image: Onshore wells. Photo: courtesy of Stuart Miles/Freedigitalphotos.net.
BNK Petroleum president and CEO Wolf Regener said: “Our team drilled the Brock 4-2H well safely and underbudget. The hydrocarbon shows recorded while drilling the lateral look comparable to our best wells. Based on everything we’ve seen, we expect the Brock 4-2H well to be another of our top performing wells once the well has been fracture stimulated.”
The major oil company that owns the minority interest in the Brock 4-2H well is preparing to drill the Anderson 1-5H10X3 well, in which BNK has a 33% working interest. The Anderson 1-5H10X3 is a planned two mile lateral also targeting the Caney formation and offsetting the Brock 4-2H well.
The well is expected to begin drilling on September 24.
The completion of the Brock 4-2H well is being scheduled to commence after the casing has been set in the Anderson 1-5H10X3 well, to avoid the frack interfering with the drilling of the Anderson well.
The two companies are working on co-ordinating the scheduling of simultaneous fracture stimulations once the Anderson well drilling rig has been released.
At the current price of oil at over $68 USD a barrel, our incremental netbacks for these wells are estimated to be over $37 USD a barrel, which represents a substantial contribution to the Company’s cash flow.
Source: Company Press Release