Operational Updates | Key Wells
Torchlight Preps for Austin Chalk Well Re-Entry
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Torchlight Energy Resources, Inc. announced that the drilling contract for the Johnson #4 Re-Entry has been approved and the Company is expecting the drilling rig to be on location during the first week of December.
Additionally, Torchlight has entered into an agreement for Goldstone Energy GP, LLC to participate in the project for 10% working interest. The 10% interest will be assigned by Torchlight from a 25% interest that was previously earmarked for industry partners. Torchlight will retain a 50% working interest in this well.
Will McAndrew III, COO of Torchlight, said: "We are very excited to announce that Goldstone Energy has elected to participate with us on this project. The substantial level of interested we have seen from industry partners on our objective to target the Austin…
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