17th Apr 2014 10:42
LONDON (Alliance News) - Caza Oil & Gas Inc Thursday announced further positive results from the second Bone Spring well at its West Copperline site in New Mexico.
The petroleum and natural gas company said the West Copperline 29 Fed #2H well reached a total depth of roughly 15,000 feet in the second Bone Spring Sand interval and was subsequently fracked on March 27.
The company said that under controlled flowback the producing rates have remained steady and the well has produced at a rate of roughly a,366 barrels of oil equivalent on April 12.
Caza Oil & Gas previously drilled and is producing the West Copperline 29 Fed #1H and #3H wells, which are also producing from Spring Sand intervals in the wells.
The company also said that log data was also obtained across its Brushy Canyon, Avalon Shale and first Bone Spring Sand intervals in the well, with data indicating the presence of oil and natural gas in each interval.
Caza Oil & Gas shares were up 4.8% to 9.69 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
CAZA.L