FORT WORTH, Texas, June 21, 2017 /PRNewswire/ — Lonestar Resources US Inc. (NASDAQ: LONE) (together with its subsidiaries, “Lonestar”) provided an update on its Wildcat B #1H well located in Brazos County, Texas. The well was drilled and completed to a total measured depth of 19,800 feet (approximately 11,000 feet true vertical depth). Lonestar owns a 50% working interest in the Wildcat B #1H well. The well was fracture stimulated with a total of 16.6 million pounds of proppant over a perforated interval of 8,166 feet (2,028 pounds per foot) in 41 stages. Previously, Lonestar announced initial test rates of 1,475 BOE per day. The Wildcat B1H has now been on production for 40 days.
Today, the Company announced that the Wildcat B1H well has established a 30-day production rate of 2,123 barrels of oil equivalent per day (Boe/d), consisting of 890 barrels of oil per day (42%), 764 barrels of natural gas liquids (36%) and 2,815 Mcf per day of natural gas (22%). These rates were achieved on a 20/64-inch choke. Lonestar has leases covering 9,555 gross / 6,420 net acres in the Wildcat area, which holds 46 drilling locations, based on 800-foot spacing. At year-end 2016, Lonestar had not recorded any proved reserves to this area.
Lonestar’s Chief Executive Officer, Frank D. Bracken, III, commented, “The early results of our first well in the Brazos Deep portion of the Eagle Ford Shale play are extremely encouraging. The rates achieved thus far are considerably higher than the average for the area. I believe this a testament to the quality of our technical team. We are currently interpreting our 3-D seismic over our leasehold. Thereafter, we will formulate our development plan for this area, which holds significant production and reserve potential for our Company.”