Global Petroleum: Production from 2nd Eagle For well forecast for September

Global Petroleum (LON:GBP) said today that its second well on Eagle Ford shale in Texas had been cased and prepared for fraccing, testing and production - due to take place in mid August.

First oil and gas production from the Tyler Ranch EFS No. 2H well on the Eagle Ford basin is forecast for early September this year.

The company's share price was up 7.58 percent in afternoon deals - trading at 17.75 pence.

The well been drilled to a total depth of 15,767 ft by the firm's partner Texon Petroleum Ltd (ASX:TXN), said the firm.

Texon drilled 4,500 feet of horizontal well in the Eagle Ford reservoir and oil and gas shows throughout are in line with what was found in the nearby first Eagle Ford well, said Global.

The first Eagle Ford well - the Tyler Ranch EFS No. 1H - showed  an initial test rate of 1,267 boepd in December last year and has been in production since.

Global Petroleum has a 7.939 percent working interest in around 1,651 acres of the Leighton prospect in Texas beneath the Olmos formation including the Eagle Ford shale.

Global has an interest in 8 producing wells, with the ninth well due to begin production following the fraccing in August.


Source: Global Petroleum

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