Global Petroleum - Texon Petroleum Well Results Improving

Global Petroleum and Texon Petroleum's second Eagle Ford well shows a 24% production improvement over the first. The McMullen County well averaged 732 boe/d (89% liquids) over the first 60 days.

The company today relayed a statement from project operator Texon Petroleum (ASX:TXN), which said the Tyler Ranch EFS No.2H well produced 38,677 barrels of oil and 31.33 million cubic feet of gas over 60 days.

The average daily production rate from the well reached 732 barrels of oil equivalent per day (boepd).

Texon has also corrected previously reported production figures for the well for the first 30 days, saying that average output rate from Tyler Ranch EFS No.2H was 817 boepd and the mistake occurred due to a faulty oil meter.

Read more at proactiveinvestors.co.uk

Texon Tests Good Eagle Ford Well - McMullen County TX

Texon Petroleum released results from its latest McMullen County Eagle Ford well. The well tested at over 1,600 boepd at a pressure of more than 3,000 psi. Texon didn't disclose if that was a full 24 hr test or not. This well was completed with 17 frack stages compared to 15 in Texon's first two wells.

Texon announces that its third Eagle Ford well (Tyler Ranch EFS #2H) has tested oil and gas at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd (6)) through a 16/64” choke at a flowing tubing pressure of 3,000 psi.

The well is located just to the north of the Company’s first Eagle Ford Well (Tyler Ranch EFS #1H) - please refer to the attached map. The test rate from the third well is more than the 1,200 bopd initial rate from Texon’s first EF well through the same sized choke.

The third well also has a higher flowing pressure which indicates the well may perform better than the first well.

Global Petroleum - Texon Testing 17 Fracks in McMullen County

Global Petroleum announced more details on Texon's lastest wells in the Eagle Ford. What is Texon's third well was completed with 17 frack stages instead of the 15 used in previous wells. Watch to see if production results increase accordingly. It's an interesting puzzle finding the right number of frack stages at the right costs. 

Global Petroleum (LON:GBP) reported this morning that its partner Texon Petroleum (ASX:TXN) has successfully fracced the second Eagle Ford well. The well will now be tested.

Global says recovery of frac fluid used in the process will probably take a few days after which Texon will conduct a proper flow test of the well, codenamed Tyler Ranch EFS Nos2H.

Fraccing – a procedure designed to increase production from the well – was carried out on Tyler Ranch EFS Nos2H over 17 stages.

Global has a 7.939% working interest in approximately 1,651 acres beneath the Olmos formation at the Leighton project, including the Eagle Ford Shale.

Read the full news release at proactiveinvestors.co.uk