Atlas Oil and Gas Announces Results of Second Well in Pawnee County, OK

Atlas Oil and Gas Announces Results of Second Well in Pawnee County, OK

Atlas Oil and Gas, Inc. announced the results from its second well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. The first well that was put into production earlier this week had an initial rate of about 20 barrels of oil per day (BOPD) from a shallow zone at 1550′. Management believes this rate will continue to increase, especially once electric is run to the lease and a larger electric motor can replace the gas driven motor currently being used.

Yesterday, the third well drilled was put into production and the well was able to move fluids very well from the Bartlesville, which was perforated from 2502′-2509′. Throughout the day, the oil to water cut ratio increased. While the well only produced about 6 barrels of oil in its first 24 hours of production, most of this time involved pumping off the water that had been used to wash out the well bore. Towards the end of the day, the oil cut led management to believe that this well should work its way up in the next couple of weeks to the initial rate of about 2-2.5 barrels of oil per hour that were recovered when the well was first perforated and swabbed.

This well was drilled to a depth of 3000′ and had commercially viable amounts of oil in about 5 different formations. The well was first perforated and acidized in the Misner from 2884′ to 2888′ since the log showed possible signs of hydrocarbons and the Misner in this area has had production rates of over 200 BOPD. The well was swabbed and did not recover very much oil from this zone.

Therefore, the Bartlesville zone was perforated and completed for production. Due to such excellent initial recovery rates (2-3 barrels of oil per hour), the well was not fracture treated. The well may be scheduled for a fracture treatment if the rate of production does not pick up.

“The reason we are excited about this well is that the initial results proved the oil is there and the recovery rate is capable of making this an excellent well,” said Dan Motsinger, President of Atlas Oil and Gas. “We wanted to see what would happen without fracture treating the well. Even if it turns out that we have to go back and do that the great thing is we know the oil is there to be recovered. What’s more is we have four other zones we can target after this if we so desire,” he added.

The logs and drilling report on this well suggest that there are commercial amounts of hydrocarbons (oil and gas) from four additional zones in the Layton (1540′-1550), Cleveland (1880’1890′), Red Fork (2310′-2318′), and the Mississippi (2814’2826′).

The well is currently utilizing a gas driven motor that has been running off of propane initially and then the natural gas coming from the Bartlesville in this well. The operator for the project believes that both this well and the first well that was put into production can do even better after more powerful electric motors are installed, enabling the wells to generate a larger stroke and thereby lift more oil out from each of the wells.

The field crew is currently working on the other wells that were drilled in this project. The remaining 6 wells in this project are in various stages of completion and should be put into production very soon. Mammoth’s management expects to have initial results from these wells in the next couple of weeks.

About Atlas Oil & Gas, Inc.

Atlas Oil & Gas, Inc is focused on developing shallow natural gas and oil wells in Northeastern Oklahoma. Atlas is an independent energy development firm primarily engaged in the exploration, development, and production of oil and natural gas. The company relies upon its industry partners, well operators, third party geologists, industry consultants, petroleum engineers, and financial analysts whose combined industry experience is essential to the success of each project. With the growing demand on oil and natural gas in the United States, Atlas will focus its resources on accomplishing its goal of successful well creation and distribution.

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