Victoria-based Marion today said the well produced at a stable rate of 411 thousand cubic feet per day over a 24 hour period and was now being cleaned up and tied into gathering infrastructure.
McAlexander-1, the first new well drilled by Marion in Oklahoma, was cased, perforated and fracture stimulated in the Granite Wash reservoir from which the test was achieved.
The Brown Dolomite reservoir will also be perforated and tested before a combined rate in announced, the company said.
“The economics of this project are very exciting, being low cost and low risk,” Marion chief executive Jeff Clarke said.
“It will start to generate cash flow almost immediately.
“The Jester-Bloomington project fits with the company’s strategy of pursuing projects that are low-risk, with repeatable value creation, in areas that are either adjacent to production or within the confines of producing areas.”
The Jester-Bloomington project in Oklahoma covers parts of the Jester-Bloomington, North Bloomington and Willow fields in Greer and Beckham counties. Historically, it has produced about 12.9 billion cubic feet of gas from the Brown Dolomite and Granite Wash reservoirs.
The gross acreage of the project totals about 24,000 acres, with 12,500 acres net to Marion.
Both operator Marion and Odyssey have a 33.3% working interest in McAlexander-1.
