SAN FRANCISCO, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Torchlight Energy Resources Inc. (TRCH:NASDAQ) is actively looking for a suitor for its large—134,000 net acres—Orogrande Basin project in Texas and is further exploring it to gain more scientific data.
Company mentioned: Torchlight Energy Resources
Torchlight holds a 72.5% interest in the Orogrande project. The company has re-entered a well bore the previous owners of the lease originated and, with the Cactus A35 1H well, has now drilled horizontally into the Penn formation.
"Our last producing well there was actually a 1,000 foot horizontal well that produced a lot of gas, but should also produce oil if we frack it hard enough," Torchlight CEO John Brda told Streetwise Reports. "It's all looking very good. It's drilled and cased and ready for fracking, which we will do at the end of the month."
"The Cactus A35 #1H well targeted one of several prospective target zones within the Pennsylvanian Section, a different and deeper zone than the zone which was productive in the Founders A25 #1H," explained Torchlight's Geoscience Team lead, Mike Zebrowski. "The Cactus A35 # 1H was landed horizontally in the sweet spot and then geo-steered to stay within an optimal position for testing one of the oil zones to hydraulically fracture."
Torchlight has also identified about 20,000 acres of structure in addition to the unconventional acreage, and is now drilling the Founders A25 #2 well and will test about six or seven conventional zones, along with the Barnett and Woodford unconventional zones.
Continue reading this article: Torchlight Firing on All Fronts in Texas
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