OKFUSKEE COUNTY, Okla., Feb. 28, 2017 /PRNewswire/ -- Wright Drilling & Exploration, Inc. announced today the successful drilling and testing of their latest oil well project, JULIE #1, located in Okfuskee County, Oklahoma.
Michael W. Wright, Chairman and Chief Executive Officer of Wright Drilling and Exploration commented, "We are excited for our partners on the JULIE #1 project since its electric logs testing results confirms the presence of oil in several payzones within its new wellbore."
Wright Drilling & Exploration began site construction on February 6th, spud well on February 12th, and hit its total depth (TD) target of approximately 4,400 feet within 10 days. Log evaluations taken from the new wellbore confirmed the presence of multiple hydrocarbon bearing zones and the well is now going into completion for oil production. Wright says the continued success of Wright Drilling and Exploration's drilling projects demonstrates the strength of our drilling partnerships and leadership quality within our company.
JULIE #1 is Wright Drilling and Exploration's fifth drilling project in Oklahoma and they currently have a total of eight producing oil wells across the states of Oklahoma, Texas and Kansas.
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.
Visit WrightDrilling.com for more information.
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SOURCE Wright Drilling & Exploration, Inc.