() is now flowing back substantial rates of oil gas and frac fluids from its Quintanilla OL 1H horizontal in Texas after completing fracture stimulation operations.
Shares in the company should trade higher today.
Talon will release further information after performing the required initial production test.
All 12 frac stages were successfully pumped and the operation to drill out the frac plugs via coiled tubing was completed successfully.
The well was then circulated to clear it of plug debris before commencement of flow testing.
Quintanilla OL 1H was drilled to a total measured depth of 13555 feet and was drilled with a 4286 foot lateral section into the Olmos formation.
Talon’s Mosman Rockingham Olmos leases lie on the flank of the AWP field which has produced 48.9 million barrels of oil and 490.5 billion cubic feet of gas from the Olmos sandstone reservoir.
The leases are also located about 18 miles from the STS Olmos Project where 8 successful horizontal wells have recently been drilled.
Based on nearby analog horizontal well performance the gross contingent resource potential (1C) is estimated to be in a range of potential outcomes of 235000 to 327000 barrels of oil equivalent per well.
Analysis
The flow of oil and gas from Quintanilla OL 1H is promising for given that 8 successful horizontal wells have been drilled just 18 miles away.
Besides providing cashflow success will also open up the rest of the acreage.
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