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Highlands chairman announces the commencement of fracking on six new wells at East Denver

Published: 17:07 21 Aug 2018 AEST

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HIghlands Natural Resources continues to enhance its land position

Robert Price, the chairman of Highlands Natural Resources Plc (LON:HNR), has revealed that fracking has just commenced at six new wells at the East Denver Project, one of two projects within the Colorado Shale division.

“We expect operations to be completed in October, with flowback from the new wells in November,” he said.

READ: Highlands Natural's projects offer multiple routes to goal

“The total number of producing wells at East Denver will increase to eight following successful flowback. This, together with the construction of a gas pipeline, which is expected to commence in September, will substantially increase our revenues from this scalable project which is being entirely funded by our partners.

 In addition, Price said that Highlands had increased its acreage position at the West Denver Project to 3,617 acres and entered into a surface access agreement.

“We have already identified the potential to drill at least 48 horizontal wells,” he said.

“We continue to increase our land position with an ongoing leasing campaign. As previously highlighted, discussions are underway with potential joint venture partners to finance this project. "Progress is also being made across our Enhanced Oil Recovery portfolio, and we are expanding our nitrogen project at low cost.”

 

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