IRVING, Texas, Dec. 1, 2010 /PRNewswire/ -- Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced today that it has spud the Breitling-Bethel #1 in Seminole County, Oklahoma.
The proposed well is located within closures mapped at the Booch Sand, Earlsboro and Senora above an estimated total vertical depth of 3,300 feet. "The Booch Sand reservoir is generally 25-30' thick, deposited in a north-south trending channel complex a quarter- to half-mile wide and is tightly controlled and clearly defined by existing wells," said Joe Simo, Chief Geologist for Breitling Oil and Gas.
Management anticipates the well will reach total depth in about 6 days. Well completion and testing should begin in mid-December.
Breitling Oil and Gas CEO Chris Faulkner stated, "Oil recoveries within the AMI appear to be controlled in part by very poor heterogeneous permeability across the sand reservoir." Faulkner added, "We have seen initial flow rates in control wells reach 250 barrels of oil per day to the east and south of our drill site. This is a very inexpensive test well with high potentials."
An additional 3 wells can be drilled if commercial production is found in the initial test well.
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