Winchester Energy’s latest Mustang well achieves ‘excellent’ oil and gas shows
Winchester Energy’s (ASX: WEL) latest Mustang well White Hat 39#2 has achieved “excellent” oil and gas shows, with the well now reaching its total depth and wireline logs indicating 30 feet of gross pay in the Strawn Sand.
The well has now reached its total depth of 7,061ft and is situated 20ft high to the White Hat 20#5 well, which averaged over 150 barrels of oil per day over an initial 60 days.
In addition to the Strawn Sand, potential pay was logged in the Ellenburger, Crystal Falls and Cisco formation.
Oil shows were also encountered in the Three Fingers shale.
Winchester is now planning to fracture stimulate the Strawn Sand in White Hat 39#2 early next year.
Mustang oil field
White Hat 39#2 makes up part of Winchester’s Mustang oil field in Texas’ Permian Basin.
Private entity Carl E Gungoll Exploration LLC has a 50% working interest in White Hat 39#2.
Preparations are underway to spud the White Hat 20#6 development well, with drilling scheduled for January.
Carl E Gungoll has the right to participate with 25% working interest in this well.
Meanwhile, the White Hat 20#4 has been fracture stimulated in the Strawn Sand and is now on pump.
Winchester is currently recovering oil and frac fluid from White Hat 20#4, with recovery of fluids gradually increasing since pumping began.
The well is flowing at 115bbl of fluid per day with an oil cut of 30%. The oil cut has also been expanding as the remaining frac fluid is produced, with Winchester estimating there is about 830bbl left of this fluid to recover.
Activities at Winchester’s wholly owned Lightning prospect are continuing with interval 3 in the Arledge 16#2 well perforated and comingled with existing producing intervals 1 and 2.
Arledge 16#2 is now back on pump and is producing from all three Lower Cisco Sand intervals at a combined rate of 75bopd with no water.
Interval 4 is the next interval due for completion at the well and is anticipated to possess 24.5ft of pay.
As we advance towards the new year, McLeod 17#3 is the next well planned at the Lightning prospect, with spudding pencilled in for later in this month.
This well is about 1,000ft east-southeast of Arledge 16#2 and will test both Upper and Lower Cisco Sands.
By early afternoon, Winchester’s shares had lifted 3.64% to $0.057.