17th Jan 2014 10:21
LONDON (Alliance News) - Nostra Terra Oil and Gas Company PLC Friday said its Chisholm Trail prospect in Oklahoma is now in production, after it was successfully drilled to a total depth of 11,773 feet at a vertical depth of 6,747 feet with a 4,428 foot lateral in the Hunton formation.
Average production rates will be announced once the rate of production has stabilised, the oil and gas producer said.
Nostra also said its CT10 well, now named Katy 2101H, will be drilled to a total depth of 12,750 feet with a lateral of around 4,000 feet in the Hunton formation. The firm has a 1.9% working interest in this well which will be operated by natural gas firm firm Gastar Exploration.
In addition, Nostra plans to participate in the 13th well (Foster 31-1H) in the Chisholm Trail prospect (CT13).
The well is planned to be drilled to a total depth of 12,750 feet with a lateral of approximately 4,000 feet in the Hunton formation.
Nostra Terra has a 2.0% working interest in this well, which will be operated by Gastar.
The stock was trading at 0.252 pence Friday morning, down 0.013 pence or 4.8%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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