Texon Petroleum announced that production at the newly drilled Mosman-Rockingham Olmos well called Wheeler #1 is ongoing, as the construction of production plants have been completed last week.
The company has prepared production tubing and the well specifically flows on a limited rate of 168 bopd and 108 mcfgpd along with flowing tubing pressure of 1,300 psi on an 8/64" choke. It intends to monitor the well on this limited choke in order to make sure that the well does not generate frac sand at this location. The choke will be additionally opened in order to maximize the rate of oil flow, if the well fails to produce sand.
Texon calculates that an additional of 30 wells may possibly expand this discovery on 40 ac. drilling sites. These sites are a result of the recently purchased three-dimensional seismic data balancing the Wheeler #1 well. The company holds a 95% working interest in the Wheeler #1 well.
According to Clifford Foss, Texon Petroleum’s President, the company is delighted over this fresh discovery well and the extended range of prospective of including 3 mmboe in the offsetting drilling locations Texon considers this well project as a new low-risk project that willbe expanded in the future.
The objective of Texon Petroleum is to identify commercially producing oil and gas through three-dimensional seismic controlled high-equity prospect areas, which contain target areas similar to nearby producing wells located at the oil and gas generating trends in Texas.