Business
Permian Basin - Trade Article
Permian Basin - Trade Article.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3490B\n Nostra Terra Oil & Gas Company PLC\n 07 October 2020\n \n \n \n \n 7 October 2020\n \n \n \n \n \n Nostra Terra Oil and Gas Company plc\n \n \n (\"Nostra Terra\" or the \"Company\")\n \n \n \n \n \n Permian Basin Trade Article\n \n \n Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA\n is pleased to note the recent trade article highlighting successful wells near the Company's assets in the Permian Basin.\n \n \n Hart Energy, the Houston based energy industry publisher, recently published an article titled:\n \n \n Small Play, Big Wells: Permian Basin's Horizontal Eastern Shelf\n \n \n A conventional, stratigraphic trap in Scurry County on the Permian Basin's Eastern Shelf doesn't cover hundreds of thousands of acres like shale plays. But the wells are just as good. And, for private wildcatters, they're particularly great.\n \n \n The article describes the development of previously disregarded and bypassed pay in the Pennsylvanian Strawn Formation. This sandstone and shale unit is between 1000' to 4,500' ft thick and lies at depths of around 7,500'ft. Legacy vertical wells have penetrated this interval which was rarely tested, when flow tests were conducted they typically yielded flowrates of 25 bbls/d, however, with the advent of low cost, more efficient horizontal well technologies these intervals are now being produced commercially at much higher rates. Typical recent completions in the area comprise a mile lateral section with multiple zones yielding flowrates of 600-1000 bopd 30 day average with cumulative production often exceeding 400,000 bbls.\n \n \n This geology and play are of considerable interest to NTOG as it sits in a region known to the Company and close to acreage in our existing portfolio. This once again demonstrates the prospective nature of our portfolio and the attractive returns on investment capable of being generated.\n \n \n Nostra Terra has built a portfolio with three areas of operations in Texas, including the focus area in the Eastern Shelf of the Permian Basin, which is located approximately 15 miles from the wells featured in the article. Nostra Terra's focus in the same area of the Permian Basin is also on shallow, conventional oil. \n \n \n  ...