New Western Energy Corp., an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America, announced that it has filed an intent to drill the Magnus #1 well on its B&W Ranch Lease located in Chautauqua County, Kansas. The Magnus #1 well is scheduled be drilled to approximately 1,900 ft., a depth sufficient to test the Mississippi Dolomite formation. Drilling is to commence later this month and is the first well of a 3 well exploration and development program.
New Western is highly optimistic about the new well's production potential. The B&W Ranch is located near neighboring oilfields that have cumulatively produced over 700,000 barrels of oil.
"We are excited to commence our drilling operations in this highly prospective area which has been known to contain multiple potential oil and gas pay zones. We look forward to exciting developments as our exploration and development program unfolds," said Javan Khazali, President and CEO of New Western Energy Corp.
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