Navigation Powder River announces significant well result in the Powder River basin
HOUSTON – Navigation Powder River, sponsored by certain investment funds managed by Juniper Capital Advisors, L.P., announced record initial production from the Jacob Federal 1-42-73-9H well in the Powder River Basin. “Our holistic approach incorporates geology and engineering into a tailored design based on the specific reservoir environment. This process is now showing fantastic results in our latest well that targeted the Parkman formation,” said Fred Miller, President and CEO.
The Jacob Federal 1-42-73-9H was completed in the Parkman Formation, with a lateral length of 4,563 feet. Peak 24-hour production was 1,805 BOE/D (90% liquids). Peak 30-day cumulative production was 44,623 BOE (88% liquids), for an IP-30 of 1,487 BOE/D (326 BOE/D per 1,000 feet of lateral). The well saw first oil within five hours of initiating flowback.
The Jacob Federal is Navigation’s ninth well drilled and completed in the Powder River Basin.“The Parkman formation has been developed with horizontal technology for over 12 years. It is quite an achievement to prove the Parkman can still be developed with such a fantastic result. This latest result shines a spotlight on the magnitude of productivity that can be generated in the Powder River Basin. This also shows what modern well design can achieve when executed at a high level,” said Fred Miller.