Northcote talks Oklahoma Zink Ranch progress

PUBLISHED: 15 Aug 2014 @ 08:12 | Comments (0) |

Operations Update

Northcote (LSE:NCT) has said that it has successfully completed infrastructure improvements at the Zink Ranch Project in Oklahoma and accordingly, the recently recompleted well #13 is now online.

The company undertook recompletions at four wells in May 2014, and two of these, wells 8-A and #13, are now in production. The two further wells, #14 and #15, will be brought online shortly. The Company intends to provide an updated total company production figure once all four wells are back online and initial gross flow rates are available.

The now completed infrastructure improvements at Zink Ranch will enable the Project site to accommodate the current and anticipated increases in gas and fluid flows resulting from the fully-funded 2014 work programme. It is anticipated that this programme, which includes the recompletion of fourteen existing wellbores into previously untapped payzones and the drilling of four new vertical wells at Zink Ranch, will be restarted in the near term.

Additionally, the Company is pleased to announce that it has commenced the workover of the Lutcher Moore #9 well at its Shoats Creek Project in Louisiana.

Northcote CEO Randy Connally said, “With infrastructure improvements now complete, we are positioned to increase net production in the near term and we look forward to evaluating the production rates. We now have two wells online at this asset and we are positive that we will see an increase in production as a result of these low cost/ high impact recompletion initiatives. We benefit from having control of our portfolio through majority interest or operatorship of our core assets and this provides us with flexibility in terms of our ongoing work programme. We are excited about Shoats Creek’s potential and we have made the decision to commence a workover at one of these wells. I look forward to providing updates regarding the results of all these initiatives and an updated total production figure in the coming weeks.”

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