TULSA, Okla.--(BUSINESS WIRE)--Tecolote Energy, LLC, a private oil and gas exploration and production company based in Tulsa, OK, announced today results from recently completed wells. The announcement includes the highest reported oil production rate from a well in Hemphill County, TX and the longest horizontal lateral drilled to date in the Western Anadarko Basin.
The Tecolote Energy, LLC operated Mathers State 172-156 CL EX 1H extended lateral well was completed in the Cleveland formation and achieved the highest reported oil production rate from a well in Hemphill County, TX. The well produced at a 30-day initial production rate of 2,439 barrels of oil equivalent per day of which 84% of the production is comprised of oil and natural gas liquids. The well is the longest horizontal lateral drilled to date in the Western Anadarko Basin. The well was drilled to a total depth of 21,529 feet with 12,592 feet of horizontal displacement. Production rates on a 24-hour basis reached 2,815 barrels of oil equivalent per day of which 1,332 barrels were oil. The well produced a cumulative volume of 35,015 barrels of oil in thirty days.
In addition, the Tecolote Energy, LLC operated Mathers 1518-165 MD EX 1H extended lateral well was completed in the Granite Wash Marmaton ‘D’ formation and achieved a 30-day initial production rate of 1,934 barrels of oil equivalent per day of which 58% of the production is comprised of oil and natural gas liquids. The extended lateral horizontal well was completed in 7,257 feet of pay and reached a 24-hour initial production rate of 2,320 barrels of oil equivalent per day.
“We are extremely pleased with the outstanding results of our first two extended laterals on our Texas Panhandle acreage position,” said Maurice Storm, Tecolote Energy President and CEO. “We are preparing to complete four additional extended laterals, two of which are in excess of 10,000 feet and two that are in excess of 7,500 feet. We expect to see similar results with high flow rates of oil and liquids rich gas as we continue to demonstrate the excellent economics and productivity of our 210,000 acre HBP position in the Western Anadarko Basin.”
About Tecolote Energy, LLC:
Tecolote Energy, LLC is a private oil and gas company with offices in Tulsa, OK and Canadian, TX. Tecolote Energy, LLC was formed in 2015 with capital from the management team and NGP, a premier private equity firm in energy capital management. Tecolote Energy, LLC is focused on applying extended lateral drilling technology and modern completion technology on their 210,000 net acres in the prolific stacked hydro-carbon reservoirs in the Western Anadarko Basin.
Founded in 1988, NGP is a premier private equity firm in the natural resources industry with approximately $17 billion of cumulative equity commitments organized to make strategic investments in the energy and natural resources sectors. For more information visit www.ngpenergycapital.com.