Union Jack Oil plc reported a commercial discovery at the joint venture Andrews 1-17 well, drilled to test the West Bowlegs prospect in Seminole County, Oklahoma.
PRODUCTION
The company said that high quality oil was being produced with an API gravity of approximately 41 degrees.
Test production and well clean-up continues while the partners have already made first oil sales.
Operator Reach Oil & Gas Inc has begun to install permanent production facilities as well as those to allow monetisation of gas production.
A follow-up Andrews-2 well location is being planned in readiness for early drilling.
Union Jack added it had now earned its 45% working interest across the associated licence area and will from now on only pay its working interest share of any future drilling and development costs.
“Stabilised oil and gas production rates will be published in due course, following the installation of permanent production facilities and the monitoring of the Andrews 1-17 well over a period of weeks,” said executive chairman David Bramhill.
“In an incredibly short space of time, the Andrews 1-17 well is contributing to our revenue stream and we await with high expectations on the result of our follow-up well, currently in the planning phase, targeting the same Hunton formation, a prolific hydrocarbon producer in Oklahoma.”