FORT WORTH, Texas, April 10, 2018 /PRNewswire/ — Lonestar Resources US Inc. (NASDAQ: LONE) (including its subsidiaries, “Lonestar,” “we,” “us,” “our” or the “Company”) today updated investors on its new completions at its Horned Frog property. In La Salle County, we previously reported the completion of the Horned Frog G #1H and H #1H. These wells were drilled to total measured depths of approximately 22,800 and 20,950 feet, respectively and were drilled from spud to total depth in an average of 12 days. These wells were fracture-stimulated in engineered completions with an average proppant concentration of 1,650 pounds per foot across an average of 40 stages per well utilizing diverters.
- Horned Frog H#1H– Flowback operations commenced on March 20th on the Horned Frog H#1H well, which has a perforated interval of 10,445 feet. After 18 days since first production and 6% of load recovered, it recently tested at three-stream rates 2,100 Boe/d, consisting of 425 Bbls/d of oil, 577 Bbls/d of natural gas liquids and 6,587 Mcf/d, on a 26/64” choke.
- Horned Frog G#1H– Flowback operations commenced on March 22nd on the Horned Frog G#1H, which has a perforated interval of 12,280 feet. After 18 days since first production and 5% of load recovered, it recently tested at three-stream rates of 2,176 Boe/d, consisting of 432 Bbls/d of oil, 600 Bbls/d of natural gas liquids and 6,860 Mcf/d on a 28/64” choke.
As it has successfully done at Wildcat, Lonestar plans to stringently choke manage these wells to optimize the total liquids recovery over the life of these wells. Lonestar has a 100% WI and 80% NRI in these wells. Additionally, Lonestar continues to expand its leasehold position via primary term leasing activity in the Horned Frog area at costs that are in-line with its historically low leasehold costs. Ongoing leasing efforts prevent the Company from disclosing commercial terms at this time, but we believe that our efforts to date will allow Lonestar to replace 200% of our estimated 2018 production. Lonestar has commenced drilling operations on the Horned Frog North West #2H and #3H, in which it holds a 100% WI.
ABOUT LONESTAR RESOURCES US, INC.
Lonestar is an independent oil and natural gas company, focused on the development, production and acquisition of unconventional oil, natural gas liquids (“NGLs”) and natural gas properties in the Eagle Ford Shale in Texas, where we accumulated approximately 78,196 gross (58,262 net) acres in what we believe to be the formation’s crude oil and condensate windows, as of December 31, 2017. For more information, please visit www.lonestarresources.com.