Swift delivers promising Olmos formation results. The company might have stumbled upon two prolific plays if the results listed below continue across the company's acreage. Both the Eagle Ford Shale and Olmos will be horizontal drilling targets going forward. It will be interesting to see if the Olmos is localized or a true resource play.
In McMullen County, one Eagle Ford horizontal well and two Olmos horizontal wells were completed during the quarter. The SMR EF 3H, with a lateral length of 4,850 feet was completed in the Eagle Ford shale and had an initial production rate of 1,230 barrels per day (“bbls/d”) of oil, 0.78 million cubic feet of gas per day (“MMcfg/d”) and 60 bbls/d of natural gas liquids, with flowing casing pressure of 1,975 psi on a 18/64” choke.
To date in the third quarter, Swift Energy has fracture stimulated five horizontal wells in South Texas. The R Bracken 40H Olmos well had an initial production rate of 6.2 MMcfg/d, 480 bbls/d of natural gas liquids and 12 bbls/d of oil, with flowing casing pressure of 5,800 psi on a 20/64” choke. The Siddons 3H Olmos well had an initial production rate of 5.1 MMcfg/d and 398 bbls/d of natural gas liquids, with flowing casing pressure of 5,400 psi on a 20/64” choke. The Whitehurst 3H Olmos well had an initial production rate of 608 bbls/d of oil, 1.4 MMcfg/d, and 106 bbls/d of natural gas liquids, with flowing casing pressure of 2,685psi on a 20/64” choke