Big Star Oil & Gas Announces Record Results With First Horizontal Well
MIDLAND, Texas, June 8, 2015 /PRNewswire/ -- Big Star Oil & Gas, LLC ("Big Star" or the "Company") today announced that its first Howard County horizontal well, the Ryder Unit A2H, has been successfully drilled and completed in the Wolfcamp A shale. The well has a productive lateral length of 7500', and was completed using a 30-stage hybrid hydraulic fracture stimulation. The well achieved a peak 24-hour IP rate of 1725 boepd (2-phase) and had a 30 day IP rate of 1469 boepd, consisting of average rates of 1358 bopd and 670 mcfd (92% oil).
Based upon production data as reported to the Texas Railroad Commission, the Ryder Unit A2H has achieved the highest reported 30-day average rate of any Howard County Wolfcamp horizontal well to date. According to Railroad Commission data, Big Star's Ryder Unit A2H well produced 23% more oil and gas in its first month than the previous top horizontal Wolfcamp well, Athlon Energy's Tubb 39 #5H. The Ryder Unit A2H is also performing significantly above the company's 752 MBOE Wolfcamp type curve.
Bradley Cross, President and Partner, Big Star Oil & Gas, said, "We are pleased with the record results that we have been able to achieve to date. The successful drilling and completion of our Ryder Unit A2H horizontal shale well strategically positions Big Star among a small population of private, independent oil companies with the technological capabilities and resources to be a top-tier shale player in the Midland Basin."
Big Star is currently completing two additional Howard County horizontal wells, one in the Wolfcamp A shale and one in the Lower Spraberry shale. The company has identified 207 gross development locations within the Wolfcamp A, Wolfcamp B, and Lower Spraberry shale horizons across its approximately 11,000 net acres of Midland Basin leasehold, and is seeking additional horizontal well development opportunities in the Middle Spraberry and Cline formations.
About Big Star Oil & Gas, LLC
Big Star Oil & Gas, LLC is a Midland, Texas based independent exploration and production company whose primary area of operation is the eastern Midland Basin. Big Star is actively developing its lease position with horizontal Wolfcamp and Spraberry shale producers. The Company also has acreage in the Central Basin Platform where they are drilling for Wolfcamp, Wichita-Albany, and Glorieta production.
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Bradley C. Cross
(432) 687-4900 Main
(432) 687-4913 Fax
[email protected]
www.bigstaroil.com
SOURCE Big Star Oil & Gas, LLC
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