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Otis Energy fracture stimulates third Texas oil and gas well

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Otis Energy (ASX: OTE) has fracture stimulated the third well at its Comanche Project in Jack County, Texas.

Lott Unit-1 had targeted ten sections of potential pay and was subjected to a three stage frac.

The well is now flowing back frac water and gas with operations over the next 24 hours involving tying the well into production facilities and readying for gas lift operations to flow back frac fluid and flow test.

Initial production rates are expected to be forthcoming over the next 7-14 days.

Otis has a 12.5% working interest in the Comanche Project.

The company has also elected to participate in a fourth well in the Comanche area.

The well, which will be a re-entry, is located just to the north of the Comanche Project outside the Company’s currently held acreage position.

The work program for the well will be a re-entry and fracture stimulation in the Marble Falls Limestone formation.

The working interest offered to the Comanche partners is 10%. Otis’ working interest will be 1.25% of the well and the associated 565 net acres.

The primary purpose for the investment by the Comanche working interest partners is to have an additional point of information on the northern side of its southern Comanche acreage position area along with adding the interest in the additional acreage associated with the re-completion.

 

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