IRVING, Texas, March 9, 2011 /PRNewswire/ -- Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced today that it has spud the Breitling-Turner #1 in Hardeman County, Texas. The Prospect was delineated using geological and geophysical techniques. Three lines of 2-D seismic were purchased over the Turner area, reprocessed, interpreted and integrated with existing well control. The seismic data verified the structural and stratigraphic position of the Holmes Sand.
The proposed well is located within a 640-acre closure mapped at the Holmes Sand and the Mississippian Chappel dolomite formations above an estimated total vertical depth of 7,600 feet. The Holmes is a high-quality sand reservoir encased in hydrocarbon-rich Barnett shale, similar to the Bakken shale in North Dakota.
"This is strictly a developmental well with at least two proven undeveloped (PUD) locations," said Joe Simo, Chief Geologist for Breitling Oil and Gas.
Management anticipates the well will reach total depth in about 16 days. Well completion and testing should begin during the second week of April 2011.
Breitling Oil and Gas CEO Chris Faulkner stated, "Engineering calculations indicate that more than 750,000 barrels of oil could be produced from this Holmes Sand unit." Faulkner added, "We feel we have good sub-surface mapping and will recover a significant amount of oil from the Holmes Sand and possibly from the deeper Chappel dolomite section."
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.
SOURCE Breitling Oil and Gas Corporation