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US Energy Preps to Drill New Wells at South TX, Williston Acreage

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   |    Thursday,January 24,2019

U.S. Energy Corp. reported that it plans to participate in new wells on its North Dakota and South Texas acreage.

South TX

U.S. Energy will participate in the upcoming Aaron #1 and J.J. #1 wells to be drilled across the Company’s acreage position in both Zavala and Dimmit Counties, Texas (Georgetown formation).  U.S. Energy’s working interest in each well is approximately 12.5% and 16.2%, respectively. 

Both wells are expected to be drilled during the first quarter of 2019.

This will be U.S. Energy’s third and fourth wells to be drilled in the development program.

Results to date include:

Well Name   USEG WI%     Initial 24-Hour Rate   30-Day Rate   90-Day Rate
                   
J.J.  #1H   16.2 %   –   –   –
                   
Aaron #1H   12.5 %   –   –   –
                   
J. Beeler #1H   30.0 %   1,424 boepd (87% oil)   820 boepd (85% oil)   –
                   
Beeler Ranch #1H   6.1 %   1,227 boepd (85% oil)   915 boepd (85% oil)   820 boepd (87% oil)
                   

Williston Basin

In McKenzie County, North Dakota, U.S. Energy will participate in the drilling of two upcoming wells, the Link 24-12-3H and the Link 24-12HU, on the Company’s existing acreage position.

The expected gross drilling and completion cost of each well is approximately $7.1mm and will be operated by Whiting Petroleum. 

U.S. Energy’s working interest in each well is approximately 3.1%.



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