Branta LLC reported that Branta Exploration & Production LLC completed the drilling and initial testing of nine highly successful oil and gas wells in the Uinta Basin of Utah from the Green River, Wasatch and Mesaverde formations which exceeded management's expectations.
Branta has established three foundational oil and natural gas opportunities in the Uinta Basin of Utah:
The Bar F # 1-20-3-2 discovery well commenced oil production on March 24, 2010 in the center of the Uinta Basin, Utah testing at a stable average rate of 900+ barrels oil per day of 42 API yellow wax crude and 650 thousand cubic feet per day (Mcfd) of natural gas with approximately 1,400 pounds of flowing tubing pressure. The well was completed in the Lower Green River and Upper Wasatch formations at a depth of 8,200 to 9,600 feet with six stages of hydraulic fracing.
The Bar F is about 7 miles south of the Altamont-Bluebell fields and potentially represents a major southerly extension of these prolific fields that combined have produced over 373 million barrels of oil equivalent from approximately 792 wells. Two other southerly extension wells to the Altamont-Bluebell field have also been recently completed by another operator as producers to the northeast of our Bar F well. Branta has interests in over 90,000 gross acres in the Altamont-Bluebell southerly extension area and plans to drill about four field delineation wells in 2010.
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