US-based Caza Oil & Gas has begun production on its Caza Ridge14 State No. 3H horizontal Bone Spring well in New Mexico, US.
As part of the initial production, the well has produced a total of 844 barrels of oil and 1,063 thousand cubic feet of natural gas per day, under controlled flowback.
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Located on the Copperline Prospect in Lea County, the well has recovered hydrocarbons and frac fluids at a gross rate of about1,688 barrels equivalent on an 18/64ths adjustable choke at 2,900 pounds per square inch flowing casing pressure.
For the past week, oil and natural gas has been flowing back in the well, which was fracture stimulated in twelve stages.
Caza chief executive officer, W. Michael Ford, said Bone Spring well production will improve the company’s oil to gas production ratio, besides helping it add further cash flow and reserve value.
"Although this is Caza’s first operated horizontal Bone Spring well, all three Bone Spring wells that Caza has participated in thus far have been successful," said Ford.
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By GlobalData"We hope to build on this initial success and are currently drilling the horizontal section of our operated Forehand Ranch test.
"In addition to creating development opportunities associated with the Copperline Property, this result has de-risked a large portion of our Bone Spring acreage in Lea County."
The company holds 45% working interest before payout and a 58.75% stake after pay out in the Caza Ridge 14 State No. 3H well, that is anticipated to comprise multiple potential pay zones for oil and liquids-rich natural gas.
