American Petro-Hunter, the aggressive, domestic oil and gas developer with substantial acreage in Oklahoma, California and Kansas, reported today the latest development on the Company’s 2k-acre North Oklahoma Project with commencement of drilling operations on the NOM1H, the site’s first horizontal well.
This will be the first of an entire series of planned horizontal wells targeting the massive Mississippi Formation, the roughly 100-foot thick pay zone that has tipped off a major upswing in drilling and exploration in Oklahoma. Indeed, major operators like Sandridge and Calyx have planned, implemented and/or executed hundreds of wells in recent months in the area.
The NOM1H is on schedule for being spud tomorrow and the Company anticipates that the engineered total depth will be achieved within a matter of weeks. Given the extremely good success of analog wells from the area, AAPH management is projecting strong results from NOM1H and anticipates that it will become a solid producer in this much-sought-after play.
President of AAPH, Robert McIntosh, called this first horizontal well a major milestone for the Company and indicated that the significant and immediate increase to oil production would be reflected in shareholder returns. McIntosh explained that this site and executed/planned drilling would give AAPH a very solid foothold, directly in the heart of “the hunt for ‘big oil’ in Oklahoma”.
The Company plans to update shareholders on a timely basis as drilling results emerge and the data becomes available from the operator, but has yet to release any kind of statistical data on activity at NOM1H due to the highly competitive nature of regional activity.
With this move and future plans to expand in Oklahoma with additional horizontal drilling, AAPH is well on its way to achieving the goal of becoming a 1k BOE, intermediate level producer and the Company is continuing to aggress interests in CA and KS as well, giving AAPH a diverse acreage position.