Mexco Energy Corporation announces production results of three new wells in the "B" bench of the Wolfcamp formation in Reagan County, Texas. These wells produced at an average rate respectively of 877,713 and 883 barrels of oil equivalent (Boe) per day, during the first eleven days of production through September 1, 2014 by centrifugal downhole pumps which were not operated at full capacity.
The results are not necessarily indicative of future rates of production or reserves. These three wells are the first three of seven wells to be drilled to a vertical depth of 8,000 feet and a horizontal length of approximately 7,150 feet with a 50 stage zipper fracture treatment.
Mexco's interest in these wells is 1.45% working interest (1.25% net revenue interest). Mexco has expended approximately $400,000 on these wells to date.