Breitling Energy Corp. (OTCBB: BECC) has provided an update on its participation in the new Wilcox Sands project. The company is participating in the Jackson prospect with Frank Davis Exploration Co. (FDEC), which drilled a directional well from Concordia Parish, Louisiana, to Adams County, Mississippi. Based on data from surrounding wells, drilling is targeting multiple Wilcox oil sands that have been productive in other wells located to northwest and southeast of the Jackson site.
The Jackson Point #1 well reached total measured depth on Dec. 23, 2014. The following day, Schlumberger ran its Triple Combo logging tools and took sidewall cores, which revealed significant shows of oil. Casing was set and cemented on Dec. 26, 2014. The company estimates that an additional five offset locations could be drilled on the property.
FDEC is currently coordinating perforating and flowback operations. The building of surface facilities should begin this month.
Breitling Energy CEO Chris Faulkner commented, “Our strategy at Breitling Energy all along has been to target assets that show potential at conservative oil prices. We say no to prospects a lot more often than we say yes. This way, we don’t worry what Saudi Arabia or OPEC is doing. If our strategy works today, it will work when prices recover, which we firmly believe they will.”