Antares Energy shines with over 57% increase in November oil and...

Antares Energy shines with over 57% increase in November oil and gas output

Monday, January 21, 2013 by Proactive Investors

Antares Energy (ASX:AZZ) has boosted its November oil and gas output by over 57% on the back of successful fracture stimulation in the Permian Basin in Texas.
Average November production stood at 1,955 barrels of oil equivalent per day (BOEPD) compared with 1,242 BOEPD in November 2011.
Net production of gas in November was at 141,654 million cubic feet compared with 79,299 MCF in November 2011.
The Ray-6 well located at Antares' Southern Star project is a direct offset to the Ray-5 well and was successfully fracture stimulated. The Ray-5 obtained a 30-day initial production rate in excess of 500 barrels of oil equivalent per day- the highest 30-day production completed by Antares in the Permian Basin.
This initial production rate rivals those of horizontal completions in the southern Midland Basin in the Wolfcamp shale.

Antares also completed the largest fracture stimulation to date in Northern Star at Cozart 19- 1 well. The 15 stage fracture stimulation involved the entire Mississippian to top Wolfcamp interval with the placement of discrete fracture stimulation stages based on mudlog hydrocarbon shows, core shows, and open hole elemental logs indicating moveable hydrocarbon saturations.
Antares has three core projects in the Permian including Southern Star, Big Star and Northern Star.