(MENAFN- ProactiveInvestors - Australia) Austin Exploration (ASX: AKK) has recovered encouraging amounts of oil and unexpected volumes of gas while cleaning up a horizontal well in Colorado.
The Pathfinder C-11-12 1HZ well is currently pumping back 600 barrels of fracture stimulation fluids per day since a Weatherford jet pump was installed on 20 November.
Importantly, about 600 barrels of good quality oil has been recovered since that time with the flowback fluids.
Gas has also been produced, which is currently being flared and Austin has moved forward with designing permanent production facilities.
The company is also continuing to increase production at its Birch-3 well in Burleson County, Texas.
Birch-3 is currently producing 15.5 barrels of oil and 150,000 cubic feet of gas.
It has also produced 5,000 barrels of fluid, about 10% used during the drilling process.
Austin expects the oil cut to increase as more drilling fluid is recovered.
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