The drilling of the Barnes 7-3H well is expected to take less than 30 days
Kolibri Global Energy Inc. begins drilling Barnes 7-3H well. (Credit: Terry McGraw from Pixabay)
Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF), is pleased to announce that its indirect wholly-owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) has commenced drilling the Barnes 7-3H well in its Tishomingo field in Oklahoma.
The drilling of the Barnes 7-3H well is expected to take less than 30 days. The rig will then move to the Barnes 8-1H well to immediately begin drilling as the location is already built. The fracture stimulation of the Barnes 7-3H well is currently being scheduled.
Wolf Regener, President and CEO commented: “We are very pleased with our successful Rights offering that allowed us to drill these 2 wells and appreciate that we have the support and confidence of our shareholders.
Both of these well locations are in the heart of our field, where our best performing wells are located. By incorporating all the knowledge learned from our previous wells we are hoping that these wells will meet or even exceed our type-curve expectations which would significantly increase the Company’s cash flow at current prices and add incremental value to the shareholders.”
Source: Company Press Release