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FOOTHILLS EXPLORATION INC. PROVIDES DRILLING UPDATE ON HOUSER-SEARS #6 WELL IN THE ILLINOIS BASIN
FOOTHILLS EXPLORATION INC. PROVIDES DRILLING UPDATE ON HOUSER-SEARS #6 WELL IN THE ILLINOIS BASIN.
About this update from Foothills Exploration, Inc
[{"type":"text","content":"\n LOS ANGELES, Aug. 01, 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 provide an update to drilling operations on the Houser-Sears #6 well. Foothills’ direct subsidiary, Anaconda Energy, is pleased to report that our partner, Benchmark Properties, has provided an update on its drilling operations previously announced at the Jasper, Illinois property. These field expansion drilling operations are designed to reveal important data on previously untapped oil in-place reserves. If successful, our exploration program may indicate a stacked-pay environment with the potential for other wells to be drilled on the leasehold in the future. Foothills’ direct wholly-owned subsidiary, Anaconda Energy, owns a 50% working interest in the Houser-Sears #6 well with the remaining 50% interest divided amongst industry partners. The primary objectives were 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’). Initial results have identified a multitude of zones with economic commercial potential oil reserves. Below is a summary of the results by zones: The Houser-Sears #6 well was spudded on July 12, 2022, drilled to a total depth of 3,420 feet, and logged. The following is a preliminary summary of this well: Salem Lime The Upper Salem Lime present in this well correlates to the \"Parrish\" Salem Oolitic zone that is productive from over 20 well to the southeast and east. This break does not exist in any of the offset wells to the south (Ochs #1 & #2) or either old (4 locations away) pre-1970 Salem tests to the northwest and southwest. This zone should be evaluated in the future. St Louis Lime The log data indicates an excellent zone in the Lower St. Louis Lime in this well (3,170-75'). The 15% porosity, permeability and 43% salt water indicate that this interval should produce relatively water free. It somewhat correlates to the Ochs #1 (1,980' to SE). The Ochs #1 has 3.5 feet of 12% porosity and it had an initial production of 36 BOPD (after acid) and produced 2,585 ...