Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) provided an update on its initial Oklahoma STACK Joint Venture well in the Osage Formation in a Dec. 3 news release.
The Swordspear 15-23N-10W #1H has now been in production mode for 160 days, since installation of an electrical submersible pump that can accommodate high fluid volumes. During that time period, it yielded an average of 330 barrels per day of oil equivalent, consisting of 50% oil, the company stated.
"The strength and, more importantly, the longevity of the Swordspear well's production profile, has given the company great confidence in its northern STACK acreage position," the release noted.
Commenting on the near term, CEO Brian Williamson said in the release, "Our current well results, 2019 planned development, coupled with surrounding marque peer wells planned for Q4/18 and Q1/19 will provide a springboard of net asset value for our STACK JV."
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Jericho Oil. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Jericho Oil. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own shares of Jericho Oil, a company mentioned in this article.