Mountainview Energy Ltd. provides an operational update on the 2013 summer drilling program in Mountainview's 12 Gage project in the Williston Basin.
Olson 2-11S-1H, Section 2 & 11 T162-101W, Divide County, North Dakota
The Olson 2-11S-1H, (the "Olson 2 Well"), the second well in the three-well summer drilling program in Mountainview's 12 Gage project in the Williston Basin, was drilled by Nabors Rig 272 to a total depth of 18,888' in 16 days. The well encountered encouraging geologic shows while drilling the lateral of 10,168', which was the longest lateral the Company has drilled to-date. The fracture stimulation conducted was a 26-stage plug and perforation program completed successfully with the well being placed on production Oct. 16, 2013. The initial 7 day average production for the Olson 2 Well, which is still recovering frac load water, was 506 boe/d gross (284 boe/d net) of 90% oil. The Olson 2 Well has produced for approximately 18 days averaging 483 boe/d gross (271 boe/d net to the Company) of 90% oil. Similar to the first well of the summer program, the Heckman 7-6-1H Well, the Olson 2 Well has exceeded Company production expectations thus far.