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Osage declares 584 BOE IP rate on first operated horizontal Mississippian well


Published Jul 24, 2014
Osage Exploration and Development, Inc.

Osage Exploration and Development, Inc. announce a peak twenty-four hour rate on its first operated Horizontal Mississippian well, the Whitten 1-3MH, of 584 Barrels of Oil Equivalent (BOE). The product mix was composed of approximately 65% oil, 15% Natural Gas Liquids (NGLs), and 20% natural gas. Osage has a 62.5% Working Interest in the well, which is located in Section 3 Township 16N 3W in Logan County, Oklahoma.

'Osage is off to a very strong start,' stated Mr. Kim Bradford, Chairman and CEO of Osage Exploration and Development (OTCBB:OEDV). 'Our first operated well has only been in production for several days and has already given us a high peak rate. Further, we are producing a very high quality crude oil, and because of the Natural Gas Liquids content, our natural gas is selling for an approximate 65% premium over NYMEX spot pricing.

Tags: Osage Exploration and Development




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