Nexera Provides Update On Hueginger And Stockdale Wells
Nexera Energy Inc. (OTC PINK: EMBYF) reported positive production results from its Huebinger E1 well, averaging 26 barrels of oil per day over its first six weeks. Initial projections estimate first-year production at 8,700 barrels, with payback expected in approximately seven months. The Huebinger E2 well is also set to begin production soon. Additionally, the McGrew 1H well at Stockdale Horizon is now operational. The company has identified five new drilling locations based on recent successes.
- Huebinger E1 well achieved an average of 26 barrels of oil per day in initial production.
- Projected first-year production of 8,700 barrels from Huebinger E1.
- Huebinger E2 well is prepared for production shortly.
- Five new drilling locations identified based on recent well results.
- McGrew 1H well at Stockdale Horizon is operational.
- None.
CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / October 28, 2021 / Nexera Energy Inc. (TSX Venture:NGY)(OTC PINK:EMBYF) (the "Corporation", the "Company" or "Nexera") reported today that the Huebinger E1 well has averaged 26 barrels of oil per day during its first six weeks of production. The Company is very encouraged by these initial rates. With anticipated first year production of 8,700 barrels, the well is expected to pay out in approximately seven months.
Additionally, the Company has now successfully drilled the second well on the Huebinger lease, Huebinger E2. The well has been completed in the Buda formation, and will be on production this week. The Huebinger E1 and E2 wells were drilled on the Company's Wooden Horse property and represent the latest vertical wells drilled at Wooden Horse. At approximately 2600' deep, the wells can be drilled and put on production economically and quickly, and with the recent results at E1 and E2, the Company as now identified five new locations for future drilling.
The Company is also pleased to report that, at the Company's Stockdale Horizon project, the McGrew 1H horizontal Austin Chalk well is now equipped and on production. Further information on initial production rates will be released as they become available.
About Nexera Energy Inc.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Stockdale Horizon Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, HagCo, and MarPat partnerships. The Company also now owns
For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@nexeraenergy.com
www.nexeraenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect", "plan", "intend", "anticipates", "projects", "potential" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts.
Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a well is actually developed. BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Emerald Bay at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Emerald Bay that actual results achieved will be the same in whole or part as those indicated in the forward-looking statements. Forward-looking statements in this document include statements regarding the Company's exploration, drilling and development plans, the Company's expectations regarding the timing and success of such programs. In particular, forward-looking information in this news release includes, but is not limited to, statements with respect to: pipeline acquisitions and leasing; pipeline permits, pipeline construction, production estimates, drilling operations, completion operations, funding and development goals. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the applicable securities regulators.
SOURCE: Nexera Energy Inc.
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FAQ
What are the initial production results from Nexera Energy's Huebinger E1 well?
What is the projected first-year production for Huebinger E1?
What is the status of the Huebinger E2 well?
What new drilling locations has Nexera Energy identified?
Is the McGrew 1H well operational?
