American Standard Energy reported that the company has started an oil and gas development program on its properties in Texas. The program encompasses ten wells and is targeting several different formations.
American Standard Energy will spud the University Andrews 42 #2 well in Andrews County, Texas. The well will be drilled and completed into the Devonian formation. Other wells in the program will target the Wolfcamp, Strawn, Lower Clearfork and Spraberry and formations.
American Standard Energy said that the University Andrews 42 #2 well will be drilled by the Viking Rig #20, which is expected to arrive at the site later in the week. The program will increase the company’s well count by 35% when finished.
American Standard Energy has hired Cambrian Management, Ltd. to supervise the drilling and completion of the ten well program. After the wells are completed, the operations will be conducted by XOG Operating, an affiliated partner of the company.
American Standard Energy reported current daily production of 800 barrels of oil equivalent as of 7/14/2011. The company has production from approximately 28 net wells located mostly in the Permian Basin and other areas of Texas.