9,100-foot well is first in a possible 50 well prospect on Crude Energy's acreage
DALLAS, April 4, 2014 /PRNewswire/ — Crude Energy, LLC, an independent exploration and production company based in Dallas, Texas, announced that it has spud the Crude-Red Wolf #1 on March 20, 2014 in Sterling County, Texas. The Crude-Red Wolf #1 is the first vertical Wolfcamp A exploratory well in a possible 50 well prospect on Crude's leased acreage.
The Crude-Red Wolf #1 is a 9,100-foot test well targeting the Wolfcamp A at 7,900 11,000 feet. Secondary objectives include the Cisco, Canyon, Cline and Triple M formations.
Management anticipates the well will reach total depth in about 19 days. Well completion and testing should begin during the first week of May.
Crude Energy President Parker Hallam stated, "We have great sub-surface mapping to the Wolfcamp on our acreage and all of those surrounding logs show good porosity and permeability and we are very confident we will make a good Wolfcamp well with tremendous additional behind-the-pipe assets." Hallam added, "As with most areas in the Permian the stacked pay potential of these wells makes for a tremendous long term producing asset for us and our investing partners."
For more information on this and other activities of the Company, see the Crude Energy website at http://www.crude.com.
Crude Energy has current oil and gas exploration projects all over the United States.
About Crude Energy, LLC
Crude Energy was founded in 2008 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and North Dakota. Crude offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.
Contact:
Jennifer Jones
Director of Public Relations
Crude Energy
214-716-2200