Deutsche Rohstoff Ag: Tekton Energy commences production from first horizontal well
17.04.2013 | DGAP
Deutsche Rohstoff AG: Tekton Energy commences production from firsthorizontal well
Denver/Heidelberg. Deutsche Rohstoff AG's US-Oil subsidiary Tekton Energy
(www.tektonenergy.com) reported today that it has already started producing
from its first horizontal well, two weeks earlier than scheduled. The well
was drilled in March 2013 and completed during the last four weeks. It was
fraced last Friday and connected to the infrastructure over the weekend.
The well already produced oil during the first few days. Usually, after the
fracing a period of up to 2 weeks is needed to pump out the water that was
injected for the frac. The production from the first well was halted until
the second horizontal well will be completed. According to the current
schedule, this will be the case some time next week. After this step, both
wells will start producing.
The first two wells are part of Tekton's overall plan to develop the full
potential of its acreage of currently 2,300 acres. Tekton expects to drill
up to 80 gross/60 net horizontal wells on its leases. As of today, over 60
of these wells have been permitted through State and local authorities.
Comparable horizontal wells are reported to define reserves of 325,000 to
350,000 Barrels of Oil Equivalent each.
Heidelberg, 17 April 2013
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in countries marked by political stability. The business concept is
based on redeveloping deposits which have been well explored in the past.
For more information please visit www.rohstoff.de.
Contact:
Thomas Gutschlag
gutschlag@rohstoff.de
+49 6221 871 000
End of Corporate News
Unternehmen: Deutsche Rohstoff AG - ISIN: DE000A0XYG76