The well is located approximately one mile west of White Hat 38 #3ML.
Highlights
• Winchester, as operator, has spud the White Hat 39#1 well targeting the Ellenburger Formation.
The White Hat 39#1 well is operated by Winchester and Winchester has a 100% working interest (WI) in the well. The AFE for the well is US$750,000 drilled and completed.
The White Hat 39#1 well is expected to be drilled to its planned total depth (TD) of 7,100 feet in 14 days and will be evaluated with electric logs and sample analyses. The well will be completed based on information derived from this data.
The White Hat 39#1 well is the 10th well on the White Hat ranch oil and gas lease and the second well to be operated by Winchester.
The Company has adopted a drilling and completion design for White Hat 39#1 which will allow testing of the Ellenburger Formation with minimal disturbance and damage to the formation.
The drilling and completion methodology being utilized will enable the Company to subsequently employ the multiple short-radius lateral drilling technique being used in the White Hat 38 #3ML well should results of drilling the vertical component of White Hat 39#1 indicate that multiple short-radius lateral drilling is warranted.
