Exploration & Production | Operational Updates | Drilling & Completions
Osage Touts 115% Increase in Woodford Production
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Osage Exploration and Development Inc. has detailed its financial and operational results for the full year 2012. Year-over-year highlights from Osage Exploration and Development include:
74% increase in total revenues from $3,515,723 to $6,120,024; 107% improvement in oil sales from $1,920,834 to $3,973,666; and, 107% growth in annual oil production from 19,162 Bbls in 2011 to 39,684 Bbls. Drilling StatusThe Company’s previously announced accelerated drilling program is proceeding ahead of initial estimates. Initially planning to drill two wells per month, Osage and its partners have spud ten wells to date in 2013, fully 50% ahead of the planned pace. Currently, there are eight wells in production and an additional twelve wells in various stages of drilling, completion, and flowback…
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