14th Aug 2014 09:21
LONDON (Alliance News) - Northcote Energy Ltd Thursday said it has completed the infrastructure improvements at its Zink Ranch Project in Oklahoma, US and said the recently completed #13 well has been brought online.
The improvements made by the firm at the Zink Ranch site will allow it to accommodate current and anticipated rises in gas and fluid flows arising from its 2014 work programme. That programme is due to be restarted soon and will involve the recompletion of fourteen existing wellbores and the drilling of four new vertical wells.
In addition, Northcote said it has started the workover on the Lutcher Moore #9 well at the Shoats Creek Project in Louisiana, US.
Randy Connally, the Chief Executive of Northcote, said the improvement work means the firm is "positioned to increase net production in the near term and we look forward to evaluating the production rates".
Northcote shares were up 1.3% to 0.78 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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