Markets

Mountainview Energy Announces Initial Production Test On Leininger Well in Williston Basin; Shy of Year Highs

Mountainview Energy Ltd. (MVW.V), which is trading shy of a year high 77 cents, provided an operational update on Mountainview's 12 Gage Project in the Williston basin.

- The company installed an artificial lift system on the Wigness 5-8-1H well, the company's first horizontal Three Forks well in its three-well winter drilling program. The Wigness well, which was put on production on February 16, 2013, has produced intermittingly because of gas lock issues and the company is currently evaluating options to curtail this problem. During this period of time the well produced for 7 days and averaged 396 bopd, 195 mcfd, and 748 bwpd. The peak production rate on the Wigness well was 613 bopd, 383 mcfd and 1,547 bwpd.

- The Leininger 3-10-1H well, the second horizontal Three Forks well in Mountainview's three-well winter drilling program, flowed for three days during the completion program at an average rate of 380 bopd, 230 mcfd, and 1,088 bwpd. The company proceeded with the completion program by moving a service rig onto the well and milled out the 25 bridge plugs from the plug and perf fracture stimulation. After cleaning the well out properly the company installed an artificial lift system and placed the well on production on March 14, 2013. Since the well has been on production it has averaged 348 bopd, 636.5 mcfd, and 772 bwpd. The peak production rate on the first day of production was 557 boe/d, comprised of 427 bopd, 838 mcfd, and 1,004 bwpd.

- Mountainview has completed the 26 stage plug and perf fracture stimulation on the Olson 35-26-1H well, the final horizontal Three Forks well in its three-well winter drilling program, which is located approximately 2-3 miles north-east of the Leininger Well. The company commenced the completion program and a service rig milled out the 25 bridge plugs from the plug and perf fracture stimulation. After completing the clean-out of the well, the company plans to install an artificial lift system and place the well on production.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More