POTTAWATOMIE COUNTY, Okla., Oct. 17, 2016 /PRNewswire/ -- Wright Drilling & Exploration, Inc. completed drilling its third well in recent weeks with positive shows of oil. Wright Drilling's geologists deem it to be a productive well with two pay-zones and is proceeding to the completion phase. The oil well project is located in Pottawatomie County, OK., west and southwest of Shawnee, OK.
"We could not be happier for our partners to have another successful project with the Hillerman #1," says Michael W. Wright, Chairman and Chief Executive Officer of Wright Drilling & Exploration.
Wright Drilling & Exploration spudded the well on October 3, 2016 and achieved total depth on October 13, 2016. Electric log evaluations and core sample assessments taken from the wellbore confirmed the presence of multiple hydrocarbon bearing zones.
The Hillerman #1 is an off-set oil well adjacent to existing oil-producing wells with multiple stacked pay-zones. Based on geological surveys, electronic logs, soil sampling and statistical studies of other oil producing wells in the area, Wright Drilling & Exploration's assessments were correct and believes the well will offer solid returns and long lasting production of recoverable oil and natural gas.
Wright says he has other active projects and is seeking additional partners for new projects to continue the company's growth trend of one new project a month.
Wright Drilling & Exploration, Inc. is an emergent North Texas-based oil and gas exploration investment company specializing in creating Limited Liability Companies for direct participation in drilling and exploration ventures for accredited investors. Oil and natural gas investments can provide tremendous tax benefits to its investors. Visit WrightDrilling.com for more information.
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SOURCE Wright Drilling & Exploration, Inc.