Doxa Energy Ltd. issued an operational update on its oil and natural gas development activities in Texas where the company is working on several different formations on its properties.
Doxa Energy Ltd. said that initial production has started on the Peeler Ranch No. 1-H well located in Atascosa County, Texas. This well was drilled and completed into the Eagle Ford Shale formation at the Peeler Ranch Prospect.
The Peeler Ranch No. 1-H well was drilled with a 4,000 foot horizontal lateral and completed with a twelve stage hydraulic fracturing operation using 1.8 million pounds of proppant. The total measured depth of the well was 13,630 feet.
The Peeler Ranch Prospect is approximately 2,000 acres in size and Doxa Energy Ltd. has a 20% working interest and a 15% net revenue interest. The company estimates that between 10 and 14 gross wells could be drilled on this property.
Doxa Energy Ltd. also announced that the company has closed on the purchase of a 12.5% participating interest in the Sartain Assets Ltd. Oil Prospect, a 1,000 acre tract located in Frio County. The company is currently in the process of reentering an existing well at the site and is targeting the Pearsall Austin Chalk formation.
For more information on the company, go to www.doxaenergy.com