Jericho’s Geology Team Digs Into The North STACK Play of Oklahoma
28 June 2018 - 4:49AM
Jericho Oil Corporation (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) is
releasing the first part in a planned series of analytical reviews
of the North STACK by Shane Matson and Ron Haveman, lead Geologists
for Jericho. Oklahoma’s STACK Play in the Anadarko Super
Basin, is a massive oil and gas play due to its lateral expanse and
vertical extent being centered on the Sooner Trend Giant Oil Field,
the “STACK” (
Sooner
Trend Oil
Field
Anadarko Basin
Canadian and
Kingfisher Counties). With five years of
growing horizontal drilling and the current lift in oil prices, the
play is undergoing a transformation with large-cap E&P’s
shifting focus from density pilots to density development and
small-cap E&P’s focusing on step-out expansion opportunities to
the north and west of the play.
Initially, many focused almost exclusively on the Meramec Shale,
a curiosity given historical vertical development of the Sooner
Trend largely targeted the Osage to Meramec aged chert and lime
deposits. In early 2017 Alta Mesa’s pioneering work on the
chert and lime deposits of what is now being referred to as The
Lower Osage only furthered the view the STACK is, in fact,
“Stacked” and a world class play. This rock type has
been the focal point of Jericho’s technical team and, as a result,
through its STACK JV, Jericho made an entry into the STACK in
September 2017 providing excellent exposure to both the Lower Osage
and Meramec Shale.
As part of its entry into the STACK Play, Jericho’s technical
team established a methodology to accurately assess where companies
were landing their laterals and the targeted rock type.
Jericho’s CEO, Brian Williamson, noted, “Both of these data points
are critical to the foundation of understanding how wells were
drilled, stimulated, and ultimately the impact on results as the
company moves into horizontal development. Ron Haveman,
Jericho’s VP of Geology, was tasked with gathering and analyzing
the data to guide Jericho’s development efforts. Well performance,
overlaid with Ron’s amazing data analytics provides a robust
dataset allowing a fast and deep dive into one of the most active
onshore oil and gas plays in the United States.”
Ron and Shane’s efforts to collect, assimilate and analyze this
data has been the key for targeting where and what Jericho wants to
acquire in the STACK. As noted in the press release on May
30th, through their STACK JV, Jericho now holds over 16,000 acres
in the North STACK Play and are looking to grow that position. Mr.
Williamson further stated, “Our geology team has done an
outstanding job of digging, digesting and extrapolating data into
usable information for us as an organization. We look forward
to the selection of future STACK locations. The results of
their initial efforts can be found on our website.”
Please click here to view The Northern Stack Play of Oklahoma
Presentation on Jericho’s Website.
About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic,
liquids-rich unconventional resource plays, located primarily in
the Anadarko basin STACK play of Oklahoma. Jericho’s primary
business objective is driving long-term shareholder value through
the growth of oil and gas production, cash flow and reserves.
Jericho has assembled a 55,000 net acre position across Oklahoma,
including an interest in ~16,000 net acres in the STACK Play.
Jericho’s current operations are focused on the oil-prone
Meramec and Osage formations in the STACK. The Jericho team
applies advanced engineering analyses and enhanced geological
techniques to under-developed resource areas.
Based in Vancouver, British Columbia, with operational
headquarters in Tulsa, Oklahoma, Jericho trades publicly on the
TSX-Venture (JCO) and OTC (JROOF). Jericho participates in the
STACK JV through one or more wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements: This news
release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and Canadian securities laws. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual events
and results to differ materially from Jericho's expectations
include risks related to the exploration stage of Jericho's
project; market fluctuations in prices for securities of
exploration stage companies; and uncertainties about the
availability of additional financing.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACTS:
Tony Blancato, Director, Investor Relations
or
Adam Rabiner, Director, Corporate
Communications1.800.750.3520investorrelations@jerichooil.com
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