Exploration & Production | Drilling / Well Results
Victory Energy IPs Permian Well; Aims Follow Up at the Wolfcamp
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Victory Energy Corporation has reported provided its first operations update since becoming current on its financials and announcing its $36 million funding relationship with Navitus Energy Group and Texas Capital Bank of Dallas, Texas.
Since January 2014, the company has completed two wells and is readying a third for completion.
One new Permian Basin well (McCauley 6 #2) is now on production and has averaged 52 barrels of oil and 58 Mcf of liquids rich gas per day since December 12, 2013. A second Permian well (Cotter 6 #2) has reached target depth with significant shows in the Fusselman, Mississippian and through the Wolfcamp formations. The Cotter well is now being readied for a multi-stage frac completion. Both of these vertical wells are located at the company’s “Lightnin” property…
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