Lonestar's 30-Day Production Rate at Wildcat B 1H Impressive

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US upstream oil and gas company Lonestar Resources US Inc.LONE recently announced encouraging results from its Wildcat B 1H well located in eastern Eagle Ford Shale's Brazos County, TX where the company holds 50% working interest.

Production Details

The company, which is operating in the well for over a month, has recorded a production rate of 2,123 barrels of oil equivalent per day (BOE/D) for 30 days. We would like to remind investors that Lonestar disclosed the initial test rates at 1,475 BOE/D for the well, which shows the significant increase in production capacity of the company, at present. The production consists of 890 barrels of oil per day, which is 42% of the total production. It also incorporates 764 barrels of natural gas liquids and 2,815 thousand cubic feet of natural gas, which are 36% and 22% of the total production, respectively.

The B 1H well has a total depth of 19,800 feet and vertical depth of 11,000 feet. The company has 6,420 net acres under lease in the Wildcat area. It has 46 drilling locations and a well-spacing limit of 800 foot.

Investors should also remember that Lonestar recently bought eastern Eagle Ford Shale Marquis assets from Texas-based energy company Sanchez Energy Corporation SN , which affirms its positive expectations from this part of the Shale.

Apart from Lonestar, major players like ConocoPhillips COP and Chesapeake Energy Corporation CHK also operate in the Eagle Ford Shale and expect high production in the future.

About the Company

Lonestar is involved in exploration, production, and acquisition of unconventional oil and gas reserves. The company is headquartered in Fort Worth, TX. It belongs to the Zacks categorized Oil and Gas - United States - Exploration and Production industry and focuses on the Eagle Ford Shale properties. It also owns 28,655 net undeveloped acres in Montana.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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