Torchlight Announces Drilling Completion on New Hazel Project Horizontal Well
Torchlight Energy Resources, Inc. (NASDAQ: TRCH) announced the successful drilling and casing of the Flying B Ranch #4H well on its Hazel acreage. The horizontal well reached approximately 7,500 feet and is set for stimulation with a significant sand loading of 3,200 pounds per foot, aimed at maximizing production. CEO John Brda highlighted the successful navigation within the Wolfcamp A zone as a positive development. Preparations are underway for fracking to commence in early October.
- Successful drilling and casing of the Flying B Ranch #4H well.
- Horizontal well reached approximately 7,500 feet.
- Planned stimulation with 3,200 pounds of sand per foot to enhance production.
- None.
PLANO, TX / ACCESSWIRE / August 28, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today reported that the recently announced well drilled by the option holders on the Hazel acreage has been drilled and cased. The rig will be released and preparations made for the frac to be delivered in early October. The horizontal portion of the well was successfully steered in the Wolfcamp A zone from start to finish and reached an approximate horizontal length of 7500 feet.
"It is positive news that the Flying B Ranch #4H was drilled successfully and stayed in zone to the desired horizontal length," stated John Brda CEO of Torchlight. "The stimulation on this well will be significantly larger with 3200 pounds of sand per foot in order to maximize the potential production from the wellbore."
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ:TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.
Forward-Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas which demand could be materially affected by the economic impacts of COVID-19 and possible increases in supply from Russia and OPEC, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact
Derek Gradwell
Investor Relations
Phone: 512-270-6990
Email: ir@torchlightenergy.com
SOURCE: Torchlight Energy Resources, Inc.
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FAQ
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