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SAN FRANCISCO, Dec. 18, 2017 -- Exploration is just beginning for this oil and gas E&P with large tracts of prime land in the Permian Basin in Texas.
Included in this article is: Torchlight Energy Resources Inc. (NASDAQ:TRCH)
Torchlight Energy Resources Inc. (NASDAQ:TRCH), an oil and gas exploration and production (E&P) company with rights to property in the Midland Basin, the Delaware Basin and the Orogrande Basin, just released an update on its first horizontal well, reporting production of 465 barrels per day.
"The recent production rates are comparable to other Midland Basin Wolfcamp A wells with 5,000 foot Laterals and on par with Torchlight's expectations for the well," the company stated.
In Pure Energy Trader, Keith Kohl wrote on Dec. 14 that "We're going to see much higher production rates reported as Torchlight continues to develop this project—something the investment herd has sorely overlooked thus far.
"Torchlight, definitively, is now the single most attractive oil-focused junior E&P in the Energy Complex." – Dallas Salazar
"We are pleased to demonstrate meaningful horizontal production in the Wolfcamp A section of our 12,000-acre lease," stated John Brda, CEO of Torchlight. "We expect that this asset will be developed employing extended laterals of up to 10,000 feet in length providing Torchlight with between 30 and 100 new Wolfcamp A well locations alone, depending on spacing. With only one productive horizontal bench of three we have seen and targeted in this field, our total number of supported horizontal locations could be well over 200 in total."
Continue reading this article: Micro-Cap Oil & Gas Explorer's First Permian Basin Well Flowing 465 Barrels/Day
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DISCLOSURE:
The following company mentioned in this article is a sponsor of Streetwise Reports Torchlight Energy Resources, Inc. Streetwise Reports does not accept stock in exchange for its services.
The full disclosure is provided at the end of the published article: Micro-Cap Oil & Gas Explorer's First Permian Basin Well Flowing 465 Barrels/Day
For more information, please contact Melissa Farley, Publisher, [email protected].
