SilverBow Resources Announces Strong Oro Grande Well Result
October 16 2017 - 4:30PM
Business Wire
SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the
Company”) today announced that the Company’s Oro Grande NMC 1-H
well had cumulative production over 940 million cubic feet of
natural gas equivalent (“MMcfe”) after ninety producing days. The
well is currently producing approximately 11 million cubic feet of
natural gas equivalent per day (“Mmcfe/d”) with nearly 6,000 pounds
per square inch (“psi”) of flowing tubing pressure under the
Company’s detailed pressure management program. The well had a
lateral length of 7,500 feet and utilized the Company’s largest
completion design of roughly 3,400 pounds of proppant per lateral
foot.
“Our use of modern seismic, geo-steering, and completion design
are yielding a marked increase in our well performance as compared
to the historical development in this area,” said Sean Woolverton,
Chief Executive Office of SilverBow Resources. “The NMC 1-H is an
important milestone and proof-of-concept well for the Company as we
transfer our learnings from Fasken to other areas of the gas and
condensate windows of the Eagle Ford. Furthermore, our strong
results from Oro Grande have prompted us to move the rig back to
the area to drill our second well sooner than what was originally
scheduled. We are currently completing the NMC 2-H with plans to
drill a third well in the area in early 2018.”
About SilverBow Resources
SilverBow Resources (NYSE: SBOW) is a Houston-based energy
company actively engaged in the exploration, development, and
production of oil and gas from the Eagle Ford Shale in South Texas.
With almost 30 years of history operating in South Texas, the
Company possesses a significant understanding of regional
reservoirs which we leverage to assemble high quality drilling
inventory while continuously enhancing our operations to maximize
returns on capital invested. For more information please visit
www.sbow.com.
Forward-Looking Statements
This release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
The opinions, forecasts, projections, or other statements other
than statements of historical fact, are forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, no assurances can
be given that such expectations will prove to have been correct.
Certain risks and uncertainties inherent in the company’s business
are set forth in the filings of SilverBow Resources, Inc. with the
Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20171016006185/en/
SilverBow Resources, Inc.Doug Atkinson, CFA, (281) 874-2700,
(800) 777-2412Senior Manager – Finance & Investor Relations
SilverBow Resources (NYSE:SBOW)
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