Posted on October 1, 2009.
PRESS RELEASE
Oil and Gas Operator announces the successful completion of 4th Horizontal Woodbine Oil Well.
** Garland, TX, 10/01/2009 – PetroMax Operating Company, Inc., Garland, Texas announces that it has successfully completed its 4th Horizontal Woodbine oil well in Madison County, Texas. The Schiflet #1H is a horizontal Woodbine oil well located in the eastern portion of the Kurten Field in Madison County, Texas. The location of this latest well is significant as it is the most easterly well drilled to date. The field which has been producing since 1976 continues to be expanded thru the utilization of emerging horizontal completion technology. The Schiflet #1H successfully fracture stimulated 9 out of the 11 scheduled stages. These stages were staggered in the horizontal leg of the well which reached approximately 5,700 feet. The Schiflet #1H had an initial production (IP) of 437 bbls/d and is producing 200-250 bbls/d respectively after 60 days on line. PetroMax is in the final stages of implementing a gas pipeline system in order to capture additional value in casing head gas.