The company now plans to drill nine new horizontal oil and gas wells using the latest in radial jet drilling technology.

It is expected that the planned total production of these new wells, dubbed the ‘radial nine well program’, will deliver 282 to 1,670 barrels of oil per day from all nine wells.

With oil averaging $90 a barrel and above, the established project will reach payback in about 12 months, the company said.

Couch Oil & Gas is a US-based oil and gas exploration, investment and operations company.