Mountainview Energy Ltd. is pleased to provide an operational update the current drilling program in the Williston Basin and the current production rates for those wells completed during the winter drilling program.
Heckman 7-6-1H, Section 7 & 6 T162N-101W, Divide County, North Dakota
Mountainview moved in Nabors 272 and commenced drilling operations on the Heckman 7-6-1H well (the “Heckman Well”), the first Three Forks well of Mountainview’s planned three well summer drilling program on its 12 Gage Project. The Company spudded and drilled to 1345’ and successfully cemented 9 5/8” surface casing on the well. Sanjel Corp. was the service Company who completed the cementing operations. The Company is currently drilling at 3600’ on the well, which has a planned total depth of 18,270’. The Company plans to use a 26-stage, plug and perforate frack stimulation, as performed on its previous 3-well program.
Olson 2-11S-1H, Section 2 & 11 T162-101W, Divide County, North Dakota
The Company’s second Three Forks well of its summer drilling program is the Olson 2-11S-1H well (the “Olson 2 Well”). The well has been permitted and the Company plans to use the same location and road as the Olson 34-26-1H well, which will provide significant cost savings in the drilling and completion stages of this well. The Company plans to drill the Olson 2-11S-1H well to a total depth of 18,450’.
Charolette 1-12-1H, Section 1 & 12 T162-R101W, Divide County, North Dakota
The third well planned for the summer drilling program is the Charolette 1-12-1H (the “Charolette Well”). The Charolette well is in the process of being permitted. This well is a direct eastern offset to the Olson 2-11S-1H well.
Patrick Montalban, President & CEO of Mountainview Energy commented on the current drilling program: “The Company is extremely excited about its 2013 summer drilling program. Mountainview expects to significantly reduce drilling and completion costs during its Summer program in comparison to its Winter program, as we are not dealing with subzero temperatures. In addition, with the hiring of Justin Balkenbush, VP of Engineering, we will be reducing our consulting costs, as all operations conducted by our VP of Engineering out of our Billings office. The company has more than quadrupled its operated production from a daily average of 130 boe/d in May 2012 to 787 boe/d in May 2013, and will continue to increase its daily production after completing the current summer program. The Company is growing at a significant pace due to the large Working Interest (Company ownership) position held on the wells being drilled.”
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