61 barrel of oil equivalent per well/Liquids account for 91% of revenue
Denver/Heidelberg. Tekton Energy reported today about its first month of production of oil and gas in its Windsor project, part of the Wattenberg field in Colorado. Three wells drilled in early February from the Rancho pad were connected to the existing infrastructure during February and March and commenced production on April 7th 2012. During the month of April, the three wells produced an average of 61 barrels of oil equivalent per day (BOEPD) per well, which is significantly better than predicted. Of the 61 BOEPD, oil and NGL accounted for 91% of production revenue with the remaining 9% consisting of natural gas.
Three more wells, drilled from the Pavistma pad in the second half of February, will commence production in the next two weeks. Drilling from Tekton´s Frye Farm pad for another three vertical wells will start in the first half of May.
By mid-year, ten net holes shall be drilled from different drill sites and brought to production. By then, an independent expert’s reserve calculation will be available. In addition to the currently executed vertical drilling campaign, Tekton is preparing a horizontal drilling program.
Heidelberg, 07 May 2012