Torchlight Energy Resources Inc. has announced that drilling has commenced on the next well in the Orogrande Project, the University Founders B-19 #1. The new well will be drilled and tested vertically in Section 19 near the center of the lease acreage. The well location was selected to further identify the 1300+ ft of net pay seen in the Cactus well. Following drilling, Torchlight and the project operator, Founders Oil and Gas will run their battery of tests to further identify plans for field development. The Company expects testing will further identify pay zones seen in the Rich A-11 well and five wells drilled by Texaco and others.
"We are pleased to be underway with drilling of the University Founders B-19 #1 well, the next step in evaluating our Orogrande Project," stated Will McAndrew III, COO of Torchlight. "Drilling the next test wells will help us delineate acreage and provide the necessary data to validate this play and plan of development for the 168 000 acre project. Our principal strategy continues to be creating control data through strategically placed wells across the acreage while building a development thesis for the entire basin. The capital and expertise provided by Founders continues to create value for Torchlight and our shareholders."
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/25042016/torchlight-and-founders-commence-drilling-of-their-next-orogrande-well-2438/