The growth of unconventional oil and gas production is creating a new energy reality for the United States. - Alex Parvizian
Dallas, TX (PRWEB) December 02, 2014
ASCHERE ENERGY is thrilled to report that the Rockingham Fields Joint Venture 3D Quintanilla OL-1H Well (API # 42-311-35394, Permit # 761449) McMullen County, TX, USA commenced flowback operations culminating in initial production over 1,072 barrels of crude oil equivalent on October 14, 2014. The flowback crew was released on October 20, 2014 having concluded operations and the well continues to recover frac load water through commercial production. The Rockingham Quintanilla Unit has already produced 13,073 barrels of sweet premium crude oil and 11,416,000 CF of natural gas in just over the first month of commercial production, initially producing from an adjusted 22/64 choke to a highly restricted 13/64 choke on regulated production, the estimated total economic value of which is roughly $1,045,840 at $80.00USD/Barrel.
TEXOZ Quintanilla OL 1H well was connected to well test equipment for flowback operations on 10 October 2014. TEXOZ had been testing the well for approximately 76 hours on various choke sizes with a maximum reported rate of 744 bopd. This peak rate was achieved over a 2-hour period in response to adjusting the choke size. The-24 hour test prior to peak production was approximately 886 boepd (Barrel oil equivalent per day, 6mcf=1bbl).
The well was drilled to a total measured depth of 13,555 feet (8,958 feet TVD) in August 2014 and was drilled with a 4,286 foot lateral into the Organic Oil Liquids Rich Olmos sandstone formation.
Aschere Energy’s President and CEO, Mr. Alex Parvizian stated: “Our strategic alliance with TEXOZ E & P has allowed for our Industry and Capital Partners, working united under a common purpose, to merge proprietary digital 3D imagery within a revolutionary application of horizontal drilling and multi-stage fracture stimulation techniques that can be replicated in 15 to 30 additional PUD locations over an expansive 3,800 mineral acres. This World Class discovery allows for strategic and capital partners to leverage and monetize these strategic PUD commercial reserves.” …“The growth of unconventional oil and gas production is creating a new energy reality for the United States; that growth has not only contributed to U.S. energy security but is a significant source of new American jobs and economic activity at a time when our domestic economy is a top priority.”
Aschere Energy anticipates high impact and long-life production in the development of a prospective 5.1 million barrels of crude oil strategic reserves with this, the first of a planned 15 world class horizontal oil drilling field development within our immense 3,816 mineral acres within this lucrative $870,000,000 AWP OLMOS FIELD McMullen County, Texas USA
For more information regarding Aschere Energy please visit its website: http://www.AschereEnergy.com
Aschere Energy’s integrated business model combines performance and responsibility within a strategic vision. Through the latest technology, coupled with sound business principles, disciplined oil and gas exploration and extraction has never been a more exciting commercial enterprise. Rooted in our General Partnerships, forward-looking technologies and applications allow us to merge revolutionary 3D digital imagery with advanced horizontal drilling and stimulation techniques to maximize their fullest ultimate potential. We can monetize strategic commercial reserves within the producing field while mitigating our managed risk threshold yielding more lucrative and sustained results with our Industry and Capital Partners.