Business
Shoats Creek Operations Update
Shoats Creek Operations Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1317E Red Rock Resources plc 14 July 2016 \n\nRed Rock Resources plc\n(\"Red Rock\" or the \"Company\")\nShoats Creek Operations Update\n \n14 July 2016\n \nRed Rock Resources Plc (\"Red Rock\" or the \"Company\"), the natural resource investment and development company, announces the following developments have been undertaken at the Shoats Creek Field:\n \nHighlights:\n \n· Lutcher Moore #20 (\"LM20\") now producing 100 barrels of oil per day (\"BOPD\") from the Frio formation - 20 BOPD net to Red Rock \n \n· Recompletion of the Lutcher Moore #19 Well (\"LM19\") as a Frio producer now finished with well testing in progress\n \n· Work on preparing the Lutcher More 21 (\"LM21\") for spud continues with a firm date to be announced in due course \n \n· Lutcher More #15 (\"LM15\") passed a mechanical integrity test and can now be used for all on-site disposal of Shoats Creek salt water volumes \n \n· Additional development opportunities have been identified in the field and a plan to begin and expand natural gas production and sales is in progress \n \nRed Rock Chairman Andrew Bell states: \"We continue field expansion with the low-cost LM19 recompletion now nearly ready for fulltime production. The operator continues to work to firm the spud date for the LM21 and several additional recompletions have been identified for further development along with a plan to add natural gas production via a local partnership in the area. \nWhile development over the year has ended up being focussed more on cheaper recompletions than on new wells we expect production levels to continue to increase and meet out ultimate targets for the year. Shoats Creek continues to offer a variety of cost-effective development pathways to increased onshore US oil and gas production.\"\nLutcher Moore #19\n \nAs previously announced on 8 June 2016, the LM19 well has now been recompleted as a Frio producing well following a successful squeeze job at the 5030' level. The well was originally a production well in a deeper horizon, the Cockfield, and following internal analysis offered itself as a logical candidat...