(MENAFN- ProactiveInvestors - Australia) AusTex Oil (ASX: AOK) is participating in a horizontal well targeting the highly productive Mississippi Lime that seeks to replicate the success of the Balder-1 well.
The Hod 19-1N well, which is operated by Range Resources Corporation (NYSE:RRC) is the first of up to three wells to be drilled on Section 19 on the western side of the Snake River Project in Kay County, Oklahoma.
It will be drilled to a total depth of 9,600 feet including an expected 4,000 feet lateral.
Balder-1 is still producing oil and gas at a rate of 480 barrels of oil equivalent per day.
AusTex has roughly 8.4% working interest in the Hod 19-1 and a 6.7% net revenue interest.
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