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BNK Petroleum announced that drilling operations have commenced today on its Tishomingo Field, Caney oil shale operations in Oklahoma.
The drilling rig contracted by the Company has begun drilling the Chandler 8-6H Caney shale oil well. Drilling is expected to take approximately 30 days, after which the rig will immediately move to the Hartgraves 1-6H location where final preparations are being completed. The fracture stimulation of the Chandler 8-6H well is planned to commence after the drilling rig has moved to the Hartgraves location.
Operations Update
The Company has shut-in 3 wells due to offset fracture stimulations being performed by another operator on a number of wells in the Woodford formation which lies beneath the Caney. The offset operator’s operations are expected to be completed in the next few weeks at which time the wells will be re-started. The Company does not expect this to impact the long-term production of the wells going forward. The four non-operated Woodford wells, in which the Company has a 5% working interest, have been fracture stimulated by the offset operator and are also expected to come on production in the coming weeks.
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