Facility installations including a pump jack have been installed, electrical connections are completed and the well has been tied into the existing storage tank battery.
The #3 Lutters is offset to the #1 Lutters well that has been in production since June, 2009 and is part of an ongoing program designed to increase overall production from the reservoir.
Oil production rates from the #3 Lutters are anticipated in the 80bpd to 100bpd range and the company believes that the project will shortly be producing over 110bpd once the well reaches stable production rates.
The Lutters #1 and #3 wells are drilled in a Mississippi Dolomite formation identified by a 3D seismic high which pinpoints the oil bearing horizon. The 750 acre location offers two additional offset well location drilling opportunities given the success of the #3 well.
