AusTex Oil spuds second horizontal well with Range Resources

11/2/2012

AusTex Oil spuds second horizontal well with Range Resources

TULSA, Oklahoma -- AusTex Oil has confirmation from Range Production, a subsidiary of Range Resources, that the Hod #19-1N horizontal well has spudded and the rig is drilling ahead. AusTex holds a 8.4% working interest and 6.7% net revenue interest in the Hod #19-1N well.

The well is targeting the Mississippi Lime interval with an expected total measured depth of 9,600 ft, including an expected 4,000-ft lateral. Drilling operations are expected to take about 45 days.

AusTex is participating in three horizontal wells with Range following the success of the Balder #1, which is still producing at 480 boepd. The Hod #19-1N well is the first of up to three wells to be drilled in Section 19 on the western side of the Snake River Project. Additional horizontal well participation opportunities are being pursued.

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