PLANO, TX –(Marketwired – January 10, 2017) – Torchlight Energy Resources, Inc. (NASDAQ: TRCH) (“Torchlight” or the “Company”), today announced that drilling of the Flying B Ranch #2 vertical well was completed to a total depth of 6,550 feet. The Company subsequently ran a full suite of logs including shale and imaging logs with 25 sidewalls cored and recovered. Preliminary analysis by Rich Masterson, the Project Geologist, has resulted in the identification of ~400 feet of continuous pay comprised of ~80 feet of Dean and ~320 feet of Wolfcamp A&B formations. Additionally, the existence of the Leonard formation was identified with ~165 feet of pay. Further shale log and detailed core analysis are underway.
Torchlight has planned a completion procedure to commence on January 18th with a scheduled fracing of the well which will target the 400′ of pay identified in the Wolfcamp and Dean formations. The Company plans to perform a significantly larger multiple-stage frac than previously employed where they will utilize 600,000 lbs. of sand pumped at a fluid rate of 75-100 barrels per minute. Torchlight expects the well to be a vertical producer providing further confirmation for economic horizontal development potential.
“We are very excited to be moving the Flying B Ranch #2 into completion,” stated John Brda, Torchlight’s CEO. “Once again, our operating partner, Maverick Oil and Gas has drilled our well ahead of time and under budget. We have engineered a much larger frac for this second well and expect that it will maximize any production results that we encounter.”
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.