Source: Streetwise Reports 12/11/2018
The well’s performance bodes well for the rest of the partners’ acreage in the play.
Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) provided an update on its initial Oklahoma STACK Joint Venture well in the Osage Formation in a Dec. 3 news release.
The Swordspear 15-23N-10W #1H has now been in production mode for 160 days, since installation of an electrical submersible pump that can accommodate high fluid volumes. During that time period, it yielded an average of 330 barrels per day of oil equivalent, consisting of 50% oil, the company stated.
“The strength and, more importantly, the longevity of the Swordspear well’s production profile, has given the company great confidence in its northern STACK acreage position,” the release noted.
Commenting on the near term, CEO Brian Williamson said in the release, “Our current well results, 2019 planned development, coupled with surrounding marque peer wells planned for Q4/18 and Q1/19 will provide a springboard of net asset value for our STACK JV.”
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( Companies Mentioned: JCO:TSX.V; JROOF:OTC,
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