(MENAFN- ProactiveInvestors - Australia) Otis Energy (ASX: OTE) has completed the eight stage fracture stimulation at its second Comanche project test well in North Central Texas.
The well is expected to take about two weeks to flow back the 32,000 barrels of stimulation fluid that were pumped into the well.
Only when this is completed will the initial production rate from Comanche-1 be known.
The earlier Comanche-2 well has been on production since 19 August and was last reported to be producing at an average rate of 225 barrels of oil equivalent per day.
The Comanche Project is located in North Central Texas, and targets the Marble Falls Limestone formation at a depth of about 5,100 feet.
Wells are drilled horizontally about 2,500 feet to 3,000 feet to target the formation, which is highly prospective for oil, natural gas liquids and natural gas.
Otis is funding 16.66% of the cost of drilling the first two wells to earn a 12.5% working interest in the project.
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