Texas South Energy Completes First well in Wilinda Project
Houston, Texas, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Texas South Energy, Inc. (OTCPK; TXSO) announced today that it has completed drilling operations on the TXSO Richter Unit 1H well to a measured depth (MD) of 9,447’ and 4,856’ True Vertical Depth (TVD) as planned and set 5 ½” production casing at 9,439’ MD. The rig has been released and the location is being cleared and prepared for a “New Generation” high intensity frac treatment that is expected to commence in approximately 30 days based on the availability of the frac equipment and crew. It is expected that the frac and cleanout will take seven to ten days to complete before the well begins the flow back process. Texas South is the Operator of the Richter Unit well and owns a 25% working interest (approximately 19.75% net revenue interest) in the well.
The Austin Chalk formation was encountered at a depth of 5,320’ MD (4,670’ TVD) with a hole angle of approximately 90 degrees. The section was then drilled to the terminus at 9,447’ MD at approximately 87 ½o, generally parallel to the dip of the formation. During the drilling of the 4,127’ lateral, multiple occasions of flow from the formation were encountered together with lost returns, both of which are typical when drilling the naturally fractured Austin Chalk limestone. The flows from the formation were all contained and flared, with flare heights of 15’ to 30’. The flares were interpreted as oil and gas bearing with no apparent saltwater. No rate or volume estimates were made.
The TXSO Richter 1H is the first well drilled and completed in the Wilinda area for Texas South. Together with its partners, the Company currently has leases and commitments on over 4,400’ acres in the Wilinda play. Nearby similarly completed horizontal wells in the Austin Chalk play have been drilled on 40 acre per well spacing. Based on this spacing, up to 110 additional wells could be drilled on the current leasehold alone. The Company will determine its initial spacing plan for this area after evaluating the results of the upcoming frac operation.
About Texas South Energy
Texas South is engaged in the oil and gas exploration and production business. We generate, acquire and prefer to operate large-scale onshore and offshore oil and gas projects, retaining as much interest as possible in the production and reserves. To learn more, visit the Texas South website at .
Investor Contacts: Texas South Energy John B. Connally III, Chairman, or Michael J. Mayell, President and CEO Phone: 713-820-6300 Email: SOURCE: Texas South Energy, Inc.
