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Austin strikes oil on sixth consecutive Eagle Ford well in Texas


Published Jan 13, 2015
Austin Exploration Limited-2

Austin Exploration advised that its Seaducer #1H well at Burleson County, Texas has been drilled to a total depth of 16,022 feet, with a 6,934 foot lateral leg, and has recorded an initial daily production rate of 960 BOE per day with approximately 90% liquids content.

The Seaducer #1H well is the sixth production well at Austin's Birch Eagle Ford project, and is being operated through the inclusion of the Company's acreage in its farm-out program in Texas.

Austin's Chief Executive Officer, Dr Mark Hart, said 'Six from six really is an excellent outcome for the Company and its shareholders. The Eagle Ford Shale has the lowest production costs of any non-conventional oil basin in the United States and remains economic in this current low oil price environment.

Tags: Austin Exploration Limited




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