Petrotech Oil and Gas begins drilling the first of three new wells on their Nowata lease in Oklahoma

1/20/2014

Petrotech Oil and Gas begins drilling the first of three new wells on their Nowata lease in Oklahoma

BEDFORD -- PetroTech announced that they have hired and paid the contractors to begin drilling the first new well on their Nowata lease in Oklahoma. They expect to have the equipment on the property soon, and will be drilling to 750' to the Bartlesville, with the average surrounding initial production rate of 20 to 39.5 bopd. Petrotech Oil and Gas estimates to drill and complete the well within three weeks. These wells could initial flow 30 to 40 barrels a day.

Petrotech's president Eddie Schilb said that "The company is pleased with the progress that we are making in this joint agreement, and plans for two more wells to be drilled right after the first one are on schedule, and will consist of drilling to the Woodford 1500" which, according to surrounding properties could yield as much as 50 bopd.

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