SCOTT COUNTY, Kan., Dec. 8, 2016 /PRNewswire/ -- Wright Drilling & Exploration, Inc. announced today the successful drilling and testing of their new oil well project, BRAEDEN #2, located in Scott County, Kansas.
Wright Drilling & Exploration began site construction on November 16th, spud well on November 22nd, and hit its total depth (TD) target of approximately 4,750 feet within 14 days. Log evaluations taken from the new wellbore confirmed the presence of multiple hydrocarbon bearing zones and this well has already gone into her completion mode for oil production.
"Christmas has arrived early for our partners," said Michael W. Wright, Chief Executive Officer and Chairman," and we now have successful oil wells in three different states (OK, TX, KS) giving our partners diverse opportunities to invest and grow with Wright Drilling & Exploration."
Scott County, Kansas has over 300 active wells there now turning out a collective average of 3,000 barrels of oil daily, and total production in 2015 exceeded a million barrels. Average lifetime production there is around 50,000 barrels per well. Over the years Scott County has moved over 17 million barrels of oil onto the market, with much of the activity beginning in 2005, which is why future oil drilling projects, similar to BRAEDEN #2, will be of great interest to any oil and gas investor.
Wright says he knew Scott County was a natural place to drill in Kansas since it has proven oil production and plenty of oil remaining to pump.
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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 drilling and exploration ventures for accredited investors. Oil and natural gas investments can provide tremendous tax benefits to its investors.
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SOURCE Wright Drilling & Exploration, Inc.