Terrace Energy announces oil production well results

Terrace Energy Corp. announced the results of the initial oil production test for the Quintanilla OL 1H well located on its NW AWP Project in Texas.

Terrace Energy Corp. announced the results of the initial production test for the Quintanilla OL 1H well located on its NW AWP Project in Texas.

Terrace Energy connected the well on Oct. 10 after demobilizing the drilling rig, and tested the well for about 76 hours on a variety of choke sizes. The test resulted in a flow of 986 barrels of oil equivalent per day, with the highest rate of flow hitting 744 barrels of oil per day on a 22/64-inch choke.

"We are extremely pleased with the early results of this well, which validates our strategy to expand our area of interest in the Olmos formation across McMullen and LaSalle Counties," said Terrace Energy CEO Dave Gibbs. "The results of the Quintanilla well compare very favorably with the development wells we are drilling on our STS Olmos Project approximately 20 miles southwest of this well."

Terrace Energy drilled the well to a depth of 13,555 feet into the Olmos sandstone in McMullen County, Texas, according to the company's website. It was completed using multistage hydraulic fracturing.

The company owns a 33 percent working interest in the Quintanilla OL 1H well and the surrounding 200 gross mineral acres. Since the wells completion, Terrace Energy has earned the option to acquire a 33 percent working interest in approximately 3,400 gross mineral acres near the well.

More information on oil exploration in Texas can be found at PennEnergy's research area.

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