Global Leader in International Oil and Gas Industry News

posted in:

Caza Oil & Gas announces initial production Caza Ridge Bone Spring test well

Tuesday, Nov 06, 2012

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) is pleased to provide a production update for the Company's Caza Ridge horizontal Bone Spring well on its Copperline Prospect in Lea County, New Mexico.

As previously announced, the Caza Ridge 14 State No. 3H horizontal Bone Spring well was fracture stimulated in twelve stages and has been flowing back for the past week. Under controlled flowback the producing rates have continued to increase each day, and during the past 24 hours the well produced a total of 844 barrels (bbls) of oil, 1,063 thousand cubic feet of natural gas, which equates to 1,021 bbls of oil equivalent, and 667 bbls of frac fluid. The well continues to clean up and recovered hydrocarbons and frac fluids at a gross rate of approximately 1,688 bbls equivalent on an 18/64ths adjustable choke at 2,900 pounds per square inch flowing casing pressure.

Caza currently has a 45% working interest (35.213% net revenue interest) before payout and a 58.75% working interest (45.972% net revenue interest) after payout in the Caza Ridge 14 State No. 3H well.

The Bone Spring formation in Lea and Eddy Counties, New Mexico, contains multiple potential pay zones for oil and liquids-rich natural gas. Caza's current prospects in the horizontal Bone Spring play are Lynch, Forehand Ranch, Lennox, Copperline, Mad River, Azotea Mesa, Bradley 29, Two Mesas and Quail Ridge. The Company is well positioned with approximately 3,300 net acres in the play, and management continues to monitor opportunities to build on Caza's current acreage position.

Source: Marketwire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Gastar Exploration begins drilling new well in Utica Shale 17-04-2014
Osiris Projects nearing completion of the ambitious works on the subsea cabling project which will help deliver fast, fibre optic broadband to the H 17-04-2014
Corlena Oil Company II, LLC to sell horizontal Texas Panhandle properties 17-04-2014
Xylem’s Godwin pumps restore critical operations at flooded oil refinery in Argentina 17-04-2014
TXON Partners, LLC to sell North Texas oil properties 17-04-2014
Samson Oil & Gas operational advisory 17-04-2014
Shell announces Malaysia deep-water gas discovery 17-04-2014
Canadian Natural Resources Limited Announces Discovered Presence of Light Oil/Hydrocarbons Offshore Cote d'Ivoire 17-04-2014
Samson Oil & Gas announces equity placement 17-04-2014
Gazprom and Gasunie emphasize long-term nature of strategic partnership 17-04-2014