Monday, February 10, 2014

Abraxas, Samson Oil And Gas Provide An Operational Update

Abraxas Petroleum Corp. provides operational update; announces upcoming presentation:  
At Abraxas' Jourdanton prospect, in Atascosa County, Texas, the Blue Eyes 1H averaged 405 boepd (383 barrels of oil per day, 134 mcf of natural gas per day) over the well's first 30 full days of production. Total acreage at Jourdanton now consists of approximately 5,700 net acres. Abraxas also recently spud the Snake Eyes 1H, which is the first of four consecutive wells to be drilled on the Jourdanton prospect in 2014. Additional wells scheduled to be drilled in 2014 include the Spanish Eyes 1H, Eagle Eyes 1H and Ribeye 1H. Abraxas owns a 100% working interest across the Jourdanton prospect.

Williston Basin In McKenzie County, North Dakota, the company successfully drilled and cased the Jore 1H, 2H and 4H. The three Jore wells are now scheduled to be fraced in March, weather permitting. Raven Rig #1 recently mobilized to the Ravin West pad to drill four wells. Abraxas owns a working interest of approximately 76% and 51% in the Jore and Ravin West pads, respectively. 
We're going to see a lot of fracking activity in March, based on this note, and what else I've been seeing across the Bakken.

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Samson Oil & Gas reports its weekly operational update: Co provides an update on its North Stockyard Project. (Update: Samson Oil sells interests in Rennerfeldt wells)

Rennerfeldt 2-13-H (SSN WI 25.03%)
The Rennerfeldt 2-13-HBK well was drilled to a measured depth of 11,572 feet, where the 7 inch production casing was set and cemented in the middle Bakken.

The forward plan is drill the 3,700 foot lateral to 15,230 feet (MD) and run the production liner.

Rennerfeldt 1-13-H (SSN WI 25.03%)
Rennerfeldt 1-13-H has been drilled to a measured depth of 11,571 feet, where the 7 inch production was set and cemented. The forward operation will be to drill the 3,600 foot lateral in the Middle Bakken once Frontier Rig 24 has completed drilling operations on the Rennerfeldt 2-13-H well.

Tooheys 4-15-14HBK (SSN WI 27.7%)
The Tooheys well is flowing restricted on a 22/64ths choke and has maintained an average oil rate of approximately 800 BOPD over the last 16 days.

Little Creature 3-15-14HBK (SSN WI 27.7%)
The Little Creature well is flowing restricted on a 18/64ths choke and has averaged 435 BOPD over the last 9 days.

Coopers 2-15-14HBK (SSN WI 27.7%)
The Coopers well is flowing on a 18/64ths choke and has averaged 490 BOPD over the last 5 days.

Coopers, Tooheys and Little Creature are located on the Tofte 2 pad on the northern boundary of Section 14

Blackdog 3-13-14H (SSN WI 25.03%)
The preparatory workover on the Blackdog well has been essentially completed, with the workover rig currently undergoing some repair work. The forward plan in this well is to perforate the first frac zone ahead of the arrival of the frac crew.

A coil tubing unit will then be used to drill out the frac plugs in both the Blackdog and Sail and Anchor 1-13-14HBK wells (SSN WI 25.03%), enabling both of these wells to be put into production. These wells are located on the Tofte 1 pad, which is on the southern boundary of Section 13 within the North Stockyard project.

Sail and Anchor 1-13-14HBK well (SSN WI 25.03%)
Sail and Anchor was fracked in September 2013 and has been flowed back previously, though that prior flow back is believed to have been restricted by the frac plugs. The plan is to have a coil tubing unit drill out the frac plugs on Sail and Anchor when fracture stimulation is completed on the Blackdog well.