First Titan Corp. issued an update today on its horizontal well prospect in Logan County, Okla. The company reports that the first stage of a two-stage completion process has been completed.

After hitting the production zone with 4000 gallons of hydrochloric acid, workers are now pumping out the stimulation fluid from the well. In the second stage of completion, the zone will be fractured with a nitrogen foam acid.

Known as Breaux #2, the horizontal well has been engineered by its sponsor, Bedford Energy, Inc., with a reserve report that includes proven reserves of 160,000 barrels of oil and 1.5 billion cubic feet of natural gas, based on nearby wells. FTTN estimates that it could produce more than $14 million worth of resources.

Tags: First Titan Corp.