Empire Energy nears oil production with spudding of final well in 10-well program in Kansas

Empire Energy Group (ASX: EEG) has spud the final well, Wokaty #7, of a proposed 10 development well drilling program in the prolific oil and gas producing state of Kansas.

The company only just announced last week it had spud the Helmers Unit #3 well which reached a depth of 179.8 metres (590 feet). The Helmers Unit #3 well will now be completed.

Empire Energy operates on the Central Kansas Uplift where it is drilling low risk development wells along with the objective of delineating additional prospects and converting to proved reserves from probable reserves.

The company spud its first well, Boxberger‐Solomon #14, in early June which is currently on production and flowing at a rate of 2 barrels of oil per day.

Empire currently has six of the 10 wells spud on production. Only one well in the program has had to be plugged because formations were not encountered. The fifth well, Esfeld #9, is currently flowing at a rate of 30 barrels per day.

The company is targeting 30 to 40 barrels of oil equivalent per day and in excess of 50,000 barrels per well.

Empire continues to actively explore opportunities to book new proved, and proved and probable reserves in Kansas by reviewing existing assets and targeting formations, and identifying new assets for farm-in or acquisition of development acreage.  

Historically, Kansas has been a very prolific oil and gas producing state with cumulative production exceeding 6.1 billion barrels of oil and 37.5 trillion cubic feet of gas.

Current yearly production is approximately 33 million barrels of oil and 342 billion cubic feet of gas from over 60,000 wells.

The most prolific oil reservoirs are the Arbuckle (Ordovician) and Lansing-Kansas City (Pennsylvanian) formations particularly from fields located on the Central Kansas Uplift.

Arbuckle reservoirs have produced over 2 billion barrels of oil state-wide. Of the 31 counties in which the Arbuckle has been productive, over 70% of the production has come from 10 counties situated on the Central Kansas Uplift.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/21220/empire-energy-nears-oil-production-with-spudding-of-final-well-in-10-well-program-in-kansas-21220.html