Production operations have now commenced at Clear Creek with the Ridge Runner 11-17 well averaging sustainable gas production at a rate of over 7 million cubic feet of gas per day (mmcf/day) over a seven day period. The Ridge Runner 13-17 and 2-19 wells have encountered minor production start up problems associated with submersible electrical pumps, resulting in delays: these wells are currently also being brought on to production. It is expected all three wells will be shortly producing at near to full capacity. • The ASD 6-17 well at the school board location reached total depth. Like the ASD 3-17 well drilled recently from the same location, the ASD 6-17 encountered very strong gas shows throughout drilling. • The Ridge Runner 8-19 (RR 8-19) well has been spudded from the same drill pad as the Ridge Runner 11-20 well. • A 100 foot thick oil show has been encountered in an upper zone in the RR 8-19 well at around 1800 feet. This is the first known oil show in the Clear Creek Unit. This well is now drilling ahead (see below for further commentary). 2 • In Oklahoma, the gas production rate is increasing gradually, as the recently recompleted wells are being tied in. Current gas rates are in excess of 500 thousand cubic feet of gas per day (“mcf/day”), up from 200 mcf/day when Marion acquired the acreage. An active tie-in and recompletion program is ongoing.
MAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
