Liberty Energy has provided an update on its Lockhart Northeast Project in Caldwell County, Texas.

The Caldwell County consists of four land tracts containing eight wells (five re-entry wells and three shut-in wells) over two leases.

The company is in the process of re-entering three wells and drilling out one well on the lease.

The four wells in question are located on three tracts of land known as the Alexander A, housing 1 re-entry well called the #2, the Alexander B, housing 2 shut-in wells called the #1 & #3 and the Anton, housing 1 shut in well called the Anton #1.

There are four main pay zones in this area which the wells could produce from, which are the Serpentine, Dale Lime, Austin Chalk & Buda.

That being said, new field discoveries are possible in the Buda, Serpentine and Dale Lime on these leases based on logged but undeveloped shows.

These are wells that have IP’d (Initial Production) at 200+ barrels of oil per day.

Cumulative production from 3,000 to 10,000+ barrels of oil per well have been achieved.

With the application of acid/fracture jobs and/or ‘far-out perforating’ it is believed that the company would be able to increase production and possibly access undeveloped reservoirs that could produce at significantly higher daily rates and overall total production.