Osage Exploration and Development continues accelerated drilling program

Tuesday, Dec 04, 2012

Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, updated the status of its accelerated drilling program by announcing the spudding of two wells in the Company’s 31,000 acre Nemaha Ridge project during the month of November. The two wells spudded in November bring the number of wells drilled by the Company and its partners, Slawson Exploration and U.S. Energy Development Corp., to seven. The McPhail 1-19H was spud on November 16th, and the Chambers 1-5H was spud on November 27th.

Additionally, Osage is pleased to announce the completion and commencement of flowback on the Hopfer 1-17H, a Horizontal Mississippian well operated by Devon Energy in which Osage owns a 14.6% working interest. The fracture treatment of the Hopfer well was completed on November 25th, and the well is currently flowing back fluids used in the hydraulic fracture of the wellbore. The Devon Hopfer location is on the section immediately adjacent to Osage's two McPhail wells.

Regarding planned completions, Osage intends to complete three wells by hydraulic fracture treatment during the month of December: the Krittenbrink 1-1H, the McPhail 2-18H, and the McPhail 1-19H.

Source: Business Wire

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