Highlands Natural Resources PLC Completion of Hydraulic Fracturing at East Denver (6162T)
October 16 2017 - 1:00AM
UK Regulatory
TIDMHNR
RNS Number : 6162T
Highlands Natural Resources PLC
16 October 2017
16 October 2017
Highlands Natural Resources plc ('Highlands' or 'the
Company')
Completion of Hydraulic Fracturing and Initiation of Flow Back
Operations at East Denver
Highlands, the London-listed natural resources company, is
pleased to announce that it has successfully completed hydraulic
fracturing operations, and is now preparing both the Wildhorse and
Powell wells ("the Wells") for flowback and production of oil and
gas at its East Denver Niobrara Project in Colorado ("East
Denver").
Highlights
-- Wildhorse and Powell wells hydraulically fractured 55 times
each for a total of 110 intervals with flow-back operations
targeted for the end of October 2017
-- Expected commencement of production during Q4 2017
-- Drilling and completions process completed safely and in
accordance with state, local and national regulations
-- Total time for hydraulic fracturing operations was 17 days,
which was within the Company's original timeline
Highlands' Chairman and CEO Robert Price said, "The commencement
of production at East Denver is a moment that the Highlands team
and our dedicated investors have long-awaited. In concert with our
financial and technical partners, Highlands has advanced East
Denver from a greenfield project to the successful completion of
two wells. Looking ahead, we are excited about the potential to
drill up to 22 additional wells at East Denver, and we eagerly
await the results of Wildhorse and Powell. Highlands will update
the market with production results as soon as they become
available."
Flow Back Process
Highlands began operations to drill out the plugs between each
fracture stage on 15 October 2017, a process which takes
approximately 5-7 days per well. Once the plugs are drilled out,
Highlands will commence the flow-back process which is targeted for
the end of October 2017. It is typical for hydraulically fractured
wells to initially produce fracture fluid, then as the fracture
fluid is emptied from the wellbore over a period of days or weeks,
oil and gas begin to "cut in" until the production stream achieves
a steady state of oil, gas and water production that is indicative
of long-term performance.
At the point when the ratio of oil, gas and water stabilises,
the Company will measure daily production rates and announce the
initial production ("IP") of the wells.
THIS RELEASE CONTAINS INSIDE INFORMATION.
**ENDS**
For further information, please visit www.highlandsnr.com, or
contact:
Highlands Natural +1 (0) 303 322
Robert Price Resources plc 1066
Cenkos Securities +44 (0) 131 220
Nick Tulloch plc 9772
+44 (0) 131 220
9771 /
Cenkos Securities +44 (0) 207 397
Neil McDonald plc 1953
St Brides Partners +44 (0) 20 7236
Lottie Wadham Ltd 1177
St Brides Partners +44 (0) 20 7236
Hugo de Salis Ltd 1177
Notes to Editors
Highlands (LSE: HNR.L) is a London-listed natural resources
company with a portfolio of high-potential oil, gas and helium
assets and technologies. The company's core projects include:
-- East Denver Niobrara: a farm-in opportunity for horizontal
oil and gas wells targeting the Niobrara shale formation.
-- DT Ultravert: a patented re-fracking and parent well
protection technology with granted and pending patents in the
United States and internationally.
-- Helios Two: a 105,000+ acre helium and natural gas prospect in SE Montana.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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