Exploration & Production
BNK Fracs Two Oily Caney Wells; Awaits Results
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BNK Petroleum Inc. has reported an update on its Tishomingo Field, Caney oil shale operations in Oklahoma, through its indirect wholly owned subsidiary BNK Petroleum (US) Inc.
The previously announced fracture stimulation of the (Caney) Barnes 6-3H well was completed and the well is currently flowing back fracture stimulation fluid. While only 11% of the stimulation fluid has been recovered to date, the well has begun producing oil. The oil rates and cuts have been increasing daily and yesterday the well made over 120 BOPD. The gas lift mechanism in place is being optimized to increase the flowback rates from the well. The Company anticipates that it will take another 2 to 3 weeks before enough stimulation fluid has been recovered to allow the true initial production rate to be…
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