Since resuming operations in the 2nd quarter, the Company has drilled 2 gross (2.0 net) operated Utica Shale wells and is currently drilling its third well in the dry gas portion of its Utica Shale acreage. In addition, the Company has completed 4 gross (3.9 net) wells averaging 10 stages per day in the liquids rich portion of its Utica Shale Acreage utilizing all slick water, 150’ stages and higher sand concentrations of 1,800 to 2,000 pounds/foot. The Company expects to put the pad into sales in the next 30 days. Further, the Company is approximately 50% done fracking its five well Wheeler pad and have been completing 8-11 stages a day while using higher sand concentrations of 2,000 pounds/foot.
Commenting on the second quarter, Benjamin W. Hulburt, Eclipses Resources’ Chairman, President and CEO said, “I continue to be impressed with our team’s strong execution, especially as we continue to extend the lateral length on our wells in the higher pressure, deeper and more technically challenging portion of our acreage position in the Utica dry gas area. Additionally, The Purple Hayes well continues to produce at its managed choke target rates with flat production, shallower pressure declines, and no change in the condensate yield to date. The Company believes this to be indicative of better than anticipated performance and remains optimistic with the results to date, although no assurances can be given as to the long-term performance of the well at this juncture.”Read the entire release by clicking here.
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