DENVER, June 15, 2018 (GLOBE NEWSWIRE) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today provided an update regarding development activities on both its legacy acreage and the acreage recently acquired from a JV controlled by Pioneer Natural Resources.
Sundance has completed drilling (“SPUD to TD”) the Harlan Bethune 25H, 26H and 27H three well pad on its recently acquired Live Oak County assets in 33 days. During the course of drilling the Company encountered significant gas kicks and produced condensate to surface. The Patterson 229 rig will be moved to the two well Harlan Bethune 34H and 35H pad in Live Oak County.
Additionally, Sundance is mobilizing the Patterson 589 rig to the two well Justin Toms pad on its recently acquired Atascosa County assets and expects to begin drilling this week.
Sundance completed fracking three of the legacy McMullen County wells it drilled during the first quarter. The Paloma Ranch 7H well had a completed lateral length of 7,690’ and initiated flowback on 2nd June. Production to date has outperformed expectations. Sundance has just drilled out the plugs on the Peeler Ranch 8HC and 9HC wells with completed lateral lengths of 5,642’ and 5,820’ respectively. Initial production of the Peeler Ranch wells is estimated on 16th June.
Sundance intends to mobilize the frac crew to its McMullen County Allen MCM 1HA and 2HA wells in late June, and subsequently to the Harlan Bethune 25H, 26H and 27H three well pad in late July.