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Panhandle Focuses on Non-Op Activity in Q3; Woodford, Eagle Ford
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Panhandle Oil & Gas announced estimated total proved reserve volumes for the Company's fiscal results for Q3 2016.
Key Points:Non-Op Woodford Program
Eight-well Woodford drilling program underway (BP-operated (80%) / Panhandle (20%))New Hydraulic Frac at Eagle Ford Well (Non-Op)
The well produced an average of 1,010 Boe per day (90% oil) for the first 30 days of production, 849 Boe per day for the first 60 days and 769 Boe per day for the first 90 days. Cumulative production to date is ~70,000 Boe. Operational Highlights: Drilling is underway on the eight-well horizontal drilling program operated by BP America in the southeastern Oklahoma Woodford gas play. Panhandle has an average 20% working interest and 27.4% net revenue interest in these wells. These wells should begin…- ✓ Full news archive — U.S., Canada & international coverage
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