Breitling Energy shares Permian Basin fracking operations update

Breitling Energy Corporation has announced hydraulic fracturing of its Hoppe ‘63’ #1 well in the Permian Basin of West Texas. The well was completed to a depth of approximately 8600 ft, with four zones being fracked recently.

The zones that were perforated and fracked include: the Strawn Lime and Cline at the deepest depths from approximately 8200 – 8500 ft, the Cisco sands and Credo from approximately 7000 – 7250 ft, the Triple M Credo from approximately 6600 – 6900 ft and the Albaugh and Middle Wolfcamp from approximately 6050 – 6300 ft.

The fracking operation

Fracking crews began setting up on 2 June and the lower two zones were fracked on 3 June, with the upper two zones being completed. Fracking operations include multiple wellbore perforations within the zones to maximise the reservoir, then sending a mixture of water, sand and lubricant under high pressure in order to create small fissures in the formations.

Following fracking, further completion operations will prepare the well for production and initial flowbacks will proceed. 

"We are confident in the macro trend for oil and are bringing this well on-line now because the economics work at today's prices. We continue to optimise efficiency so we can produce and sell oil and gas in the full spectrum of price environments," says Chris Faulkner, Breitling Energy's CEO and Chairman. "It's not so much about price for us as it is optimisation. Our lease in the Permian Basin allows us to be efficient, and we will continue developing the field without debt, which gives us the added confidence to move forward with the company plan we outlined in our first year," Faulkner added.

 

Adapted from press release by Cecilia Rehn

Published on 18/06/2015


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