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Antares Energy fracs two wells in Texas, primes third  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 06/12/2012

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(MENAFN - ProactiveInvestors - Australia) Antares Energy (ASX:AZZ) has successfully completed successfully completed fracture stimulation at two of its exploration wells at its Permian Basin permit in Texas.

It will be spudding a third well and conducting frac stimulation on a fourth well.

It has completed fracture stimulation at its Southern Star project with the Ray- 6 well, with the Atoka/Stawn interval in the Ray- 6 showing porosities in excess of 16% with resistivities over 30 ohms.

This well is a direct offset to the Ray -5 well, which obtained a 30-day initial production rate in excess of 500 barrels of oil equivalent per day- the highest 30-day IP rate of any well completed by Antares in the Permian Basin.

Prior to setting production casing, oil and gas were circulated to the surface from the uncased, openhole interval.

At Northern Star project, the largest fracture stimulation to date has been successfully completed. The 15 stage fracture stimulation involved the entire Mississippian to top Wolfcamp interval with the placement of discrete fracture stimulation stages based on mudlog hydrocarbon shows, core shows, and open hole elemental logs indicating moveable hydrocarbon saturations.

The well is currently shut-in for the addition of more frac flow back tanks needed for oil capture and the replacement of flowlines.

The Debnam 22 No. 1 well, also in the Northern Star project tenement, is currently scheduled to undergo a multi-stage fracture stimulation in early 2013.

This will allow for information from This is to allow for information obtained in the fracture stimulation of the Cozart 19 No. 1 to be incorporated into the stimulation design of the Debnam 22 No. 1.

Additionally, the Robinson -1 well will be spudded in the second week of December at the Southern Star project.

Anatares Energy has three core projects including Southern Star, Big Star and Northern Star, all located in the prolific Wolfberry Trend of the Permian Basin.


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