A total of eight shipments were transported to the purchaser NCRA in McPherson, Kansas. During the month, the #1 Lutters well was in production for 20 days and the #3 for 13 as it was shut in during a tank hook up period following the completion of the well, the company said.
The company added that with the wells now daily pumping over 60 barrels combined, plans are underway to increase the strokes per minute of the pump jacks, which along with a full month’s production is anticipated to nearly double the production from both wells for the month of August.
The company believes that oil production rates from the Postons project will reach the 100bpd range once the #3 Lutters well reaches stable production. 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.
