Storm Cat Energy Corporation Provides Update on Fayetteville Shale Production Activityadmin
Storm Cat Energy Corporation provided an update of its operations in the Company’s Arkansas Fayetteville Shale acreage.
The first three of the Company’s 2008 Fayetteville development program wells are now on production and tied into sales, two of which have undergone State of Arkansas Form 13 testing. Each well continues to produce significant volumes of fracturing fluid. Notwithstanding, the Owen 1-18H tested at a rate of 1,240 thousand cubic feet per day (Mcf/d) and the Ballard 1-18H tested at a rate of 1,341 Mcf/d. The Company is very encouraged by these test rates and anticipates that production from these wells will increase as cleanup progresses. The third well, the Roberts 1-13H, is tied into sales and is about to undergo a Form 13 rate test.
The Company anticipates commencing hydraulic fracturing of the fourth horizontal well of the 2008 program, the Files 3-12H, this week. Drilling activity on the fifth horizontal well, the Files 2-12H, is ongoing and is approaching total depth. Finally, completion of the Vaughan 2-18 well, a shallow well testing a gas-charged zone observed in the Vaughan 1-18H well, is expected to commence later this week.
The Company is extremely pleased by the initial results observed in its 2008 wells and believes that these results further validate the Company’s asset position.
About Storm Cat Energy
Storm Cat Energy is an independent oil and gas company focused on the exploration, production and development of large unconventional gas reserves from fractured shales, coal beds and tight sand formations and, secondarily, from conventional formations. The Company has producing properties in Wyoming’s Powder River Basin and Arkansas’ Arkoma Basin and exploration and development acreage in Canada. The Company’s shares trade on the American Stock Exchange under the symbol “SCU” and in Canada on the Toronto Stock Exchange under the symbol “SME.”
Source: Storm Cat Energy Corporation