Petro River Oil Corp., an unbiased oil and fuel exploration firm that makes use of 3D seismic know-how to find and develop oil and fuel reserves in confirmed oil and fuel basins, introduced at present the invention of its largest oil area with the profitable drilling of the Arsaga 25-2 exploration properly in Osage County, Okla.
The Arsaga 25-2 exploration properly was the primary of three exploration wells outlined within the Company’s 2018 drilling program. The Arsaga properly was spud on July 9, 2018, and drilled to a depth of roughly 2,750 ft. Preliminary outcomes point out 30 ft of productive Mississippian Chat formation, with an estimated final restoration of 50,655 boed. The Company plans to supply a 30-day preliminary manufacturing charge or IP charge in September 2018. The estimates on final restoration per properly are based mostly on the reserve report dated May 1, 2018, ready by Cawley, Gillespie & Associates (CGA), an unbiased petroleum engineering agency.
“The discovery within the Arsaga area has given the Company continued confidence in our capacity to successfully use 3D seismic imaging know-how to find neglected prospects. The improvement of the Arsaga area, with roughly 2,000 potential acres and as much as 100 properly places, would be the focus of our exercise for the subsequent couple of years,” mentioned Petro River President Stephen Brunner.
Please depart feedback and suggestions under