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FOOTHILLS EXPLORATION INC. COMMECES DRILLING OF NEW WELL IN THE ILLINOIS BASIN
FOOTHILLS EXPLORATION INC. COMMECES DRILLING OF NEW WELL IN THE ILLINOIS BASIN.
About this update from Foothills Exploration, Inc
[{"type":"text","content":"\n LOS ANGELES, July 13, 2022 (GLOBE NEWSWIRE) -- Foothills Exploration, Inc. (OTC: FTXP), including its direct and indirect subsidiaries, (\"Foothills,\" or the \"Company\"), an oil and gas exploration company focused on delivering the energy needs of today and tomorrow, is pleased to announce commencement of drilling operations for the Houser-Sears #6 well. \"We are pleased to report that our partner, Benchmark Properties, who is operator of the Ste. Marie West Project drilling and development program, has advised us that drilling is now underway at the Jasper, Illinois property. Foothills’ direct subsidiary, Anaconda Energy, owns a 50% working interest in the well with the remaining 50% interest divided amongst industry partners,” said Kevin Sylla, the Company’s Executive Chairman. Houser-Sears #6 Well The Houser-Sears #6 well drilling operations commenced yesterday targeting a proposed depth of 3,500 feet. This infield drilling location is in a stacked-pay environment with the potential to produce from several pay zones. The primary objectives are the Aux Vases Sand (2,724’), Upper McClosky Limestone (2,800’) and McClosky Dolomites (2,840’). The secondary objectives are the St. Louis Lime (3,150’) and Salem Lime (3,308’). If the well is drilled and completed successfully the potential expected payout is within 180-270 days of initial production. About the Company Foothills Exploration, Inc. (“FTXP” or the “Company”), is an oil and gas exploration and development company focused on delivering the energy needs of today and tomorrow. The Company’s strategy is to build a balanced portfolio of assets through two core initiatives. The first initiative is to generate high-impact oil and gas exploration projects. The second is to invest in hydrogen and geothermal projects for a low carbon future through its New Energy Ventures division by identifying areas where the Company can contribute to a viable, realistic, and balanced future energy mix. For additional information please visit the Company’s website at www.foothillspetro.com. Forward-Looking Statements All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the f...