Torchlight Energy Resources Inc. (TRCH:NASDAQ) is seeing oil and gas shows early in the frack fluid flowback process at its Cactus A35 #1H well in Texas, it announced in a news release.
Cactus A35 #1H is now producing 160–180 barrels of fluid per day with about 15% load recovery. The primary pump being used can move 500 barrels of liquid per day.
"Intake pressure remains over 1,000 pounds per square inch, and the company is anticipating increased hydrocarbon content as the frack load and intake pressure both decline," the release noted.
Now, Torchlight is working to estimate initial production potential and reserves.
"We are very encouraged to be seeing oil and gas shows from this well early in the frac flowback process," stated John Brda, Torchlight's CEO. "With the frac size and design used, we have stimulated both the matrix and fracture system in the Penn formation's dual porosity composition. Once we establish an Initial Potential (IP) production rate we will have necessary data to both estimate initial production potential and reserves from extended length laterals using multi-stage fracture stimulation techniques. The stimulation of this 100-foot lateral interval should provide us the evidence required to prove commercial viability in the oil window of the Pennsylvanian formation, which is critical to project marketability."
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