20th Sep 2018 13:55
LONDON (Alliance News) - Highlands Natural Resources PLC on Thursday said it expects to finalise the fracking operations at its East Denver project located in the US state of Colorado by December.
The natural resources company said, in mid-July, it completed drilling operations at the six new wells at its East Denver project.
In mid-August, the company prepared the pad for fracture stimulation operations. On Thursday, Highlands said it completed the fracking operations for the Grizzly well with the Ouray and Buckskin wells now around 60% complete.
The company also noted that its well operator has revised he fracking schedule due to water supply disruptions for the local services industry. Highlands said it organised an alternative water supplies to complete the operations.
In addition to requisitioned water supplies, Highlands decided to move two of its E10X modular solar powered water-recycling units to the East Denver location to treat production. As a result, flow-back water from operations will become reusable.
Highlands noted, however, that it will charge fees for treating the disposed water and selling the fresh water to the operator.
The company said it now expects the fracking operations to be completed in December with flow-back from the new wells in late December or early January.
Shares in Highlands were trading 5.1% lower on Thursday at 16.98 pence each.
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