Exploration & Production
Jericho Oil Beginning Water Injection
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Jericho Oil Corporation has announced it has completed its Phase 1 drill program ahead of schedule drilling 35 additional wells (40% more than the scheduled 80 wells) with positive results from its initial drilling efforts.
The Company has now drilled 72 new, oil producing wells and 43 new, secondary recovery water injection wells into known producing formations between 600 and 800 vertical feet on its eastern Kansas properties, with a greater than 90% success rate.
To-date, 30 oil producing wells and 12 secondary recovery water injection wells have been brought on-line. Initial production rates per producing well have averaged between 3.0 to 5.0 barrels of oil per day, exceeding Jericho's single well economic assumptions for the region. The Company intends to turn on the additional…Finish this article — free account or subscription
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