(MENAFN- ProactiveInvestors - Australia) Antares Energy (ASX: AZZ) has acquired additional acreage in its producing Southern Star project area in Texas.
The additional 1,034 net acres brings its total area up to 4,450 net acres and represents an additional 25 drilling locations on 40 acre spacing and a further 25 drilling locations on 20 acre spacing.
This gives the Southern Star project 80 low risk 40-acre development drilling locations and over 125 infill 20-acre development drilling locations.
Drilling on the new acreage is expected to begin soon.
Wells in the Southern Star project have flowed oil at high rates with the Ray-5 well a notable example, having flowed at an initial rate of more than 500 barrels of oil equivalent per day.
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