IRVING, Texas, March 28, 2011 /PRNewswire/ -- Breitling Oil and Gas today announced that the Breitling-Magnolia #1 in Pottawatomie County, Oklahoma, is being completed as a possible oil and gas producer after reaching a total vertical depth of 4,500 feet.
From log analysis, the well encountered several potentially productive zones over a gross interval in the Earlsboro Sand formation from 3626 feet to 3648 feet; the Woodford Shale from 3972 feet to 4130 feet; the Hunton from 4130 feet to 4165 feet; the Simpson from 4344 feet to 4356 feet; and the Wilcox from 4394 feet to 4408 feet. Testing and completion plans were finalized March 20 and a completion rig and crew moved into location on March 22, 2011.
Chris Faulkner, CEO of Breitling Oil and Gas, said, "We encountered five possible pay zones on the way down each with good-looking mud log shows." Faulkner added, "We have 158 feet of good-looking Woodford Shale that we are analyzing as a possible horizontal play here as well."
Breitling ran a density-neutron log, microlog and an induction log and decided to run pipe based in analysis by Breitling's engineers and geologists as well as Weatherford Laboratories analysis of the Magnolia #1 logs. Joe Simo, Chief Geologist for Breitling Oil and Gas, said, "These zones had good-looking porosity and we had some big gas kicks and sample shows with odor, stain and cut."
For more information on this and other activities of the Company, see the Breitling Oil and Gas website at http://www.breitlingoilandgas.com.
Breitling has current oil and gas exploration projects all over the United States.
About Breitling Oil and Gas Corporation
Breitling Oil and Gas was founded in October 2004 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.
Director of Public Relations
Breitling Oil and Gas Corporation
SOURCE Breitling Oil and Gas Corporation