LONDON, UK: Pennpetro Energy PLC, a Texas-based oil and gas company, announced its first full month of oil production from its Chalk Talk #1H well in the Peach Creek Oil Field.
The well produced 4,827 barrels of oil at an average of 161 barrels per day in November, with peak daily production reaching 410 barrels.
The well also saw increased levels of gas with the oil. The company sold 4,468 barrels of oil in November and expects to receive payment on 20 December. The company is also preparing for a workover on its Chalk Talk #4H well in mid-December.
Tom Evans, Pennpetro Energy’s CEO said: “These are brilliant results for our first full month of oil production from our CT1H well in Texas, and pleasingly exceeds our original estimates of circa 20 barrels per day. We have seen some days reach oil production rates up to 410 bopd, and we are still waiting for the well to settle into stable production.
We are still seeing a generally increasing trend in our daily oil production, which is certainly highly encouraging, and it may take us another month or so to see the well finally settle down to a steady state flow rate.
We are also very active in preparing for the arrival of the workover rig to start work on our second well, Chalk Talk #4H, in the middle of this month. We are fortunate enough to have booked the same workover rig and rig crew who did the workover on our CT1H well.”
Pennpetro Energy announces first oil trucked from Chalk Talk 1H Well in Texas