Welcome!

News Feed Item

Torchlight Energy Updates Progress on Hunton Wells Operated by Husky Ventures

Continued Success Marked by Daily Peak Rate of Over 1400 BO

PLANO, TX--(Marketwired - May 19, 2014) - Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight Energy" or "the Company"), a rapidly growing mid-continent oil and gas company, today issued an update on the progress of its horizontal Hunton play operated by Husky Ventures. The table below indicates the wells that have been placed into production, are currently in initial flow back, are currently being fraced or are currently being drilled. Overall results have met or exceeded management's expectations. 

"Torchlight is very pleased with the pace of activity and the results of these wells," commented Will McAndrew, Torchlight's COO. "We expect that our efforts in this play will continue to return positive results. Evidence is showing that we should be able to continue to meet and exceed the expected type curves for our horizontal Hunton wells being systematically developed by Husky Ventures. Due to Husky's success in over 50 consecutive wells drilled to date on these leases, we will continue to aggressively expand in this area and expect to be a participant in several hundred new targets with Husky over the long term."

----------------------------------------------------------------------------
TRCH Participation in Husky Operated Wells Q2 2014 (to date)                
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                     Gas    Total    Total                  
                                    Peak      Oil      Gas                  
            Status     Oil Peak     MCFD     (BO)     MMCF  Days On  TRCH WI
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Gamebird    Producing       452      420   16,585   14.909       42    4.79%
----------------------------------------------------------------------------
Sieber      Producing       613      576    7,233    6.365       27    1.38%
----------------------------------------------------------------------------
Kodiak      Producing      1432    1,537   11,855   11.337       12    1.38%
----------------------------------------------------------------------------
Judy        Frac                                                      10.00%
----------------------------------------------------------------------------
Swart       Frac                                                      17.00%
----------------------------------------------------------------------------
Curly       Flow back                                                  7.39%
----------------------------------------------------------------------------
Grizzly     Flow back                                                 15.79%
----------------------------------------------------------------------------
Neimeyer    Frac                                                      17.65%
----------------------------------------------------------------------------
Anna Lee    Frac                                                       3.89%
----------------------------------------------------------------------------
Vaverka     Drilling                                                   4.07%
----------------------------------------------------------------------------
Odin        Frac                                                      19.60%
----------------------------------------------------------------------------
Loki        Drilling                                                  16.22%
----------------------------------------------------------------------------
Hobbs Ranch Drilling                                                   1.29%
----------------------------------------------------------------------------
Bass Boys   Drilling                                                  13.28%
----------------------------------------------------------------------------
Yeti        Drilling                                                   1.49%
----------------------------------------------------------------------------
Sasquatch   Drilling                                                   2.58%
----------------------------------------------------------------------------
Jam         Next                                                       3.47%
----------------------------------------------------------------------------

While Torchlight's Working Interest in these most recent wells is small, it is important to highlight the performance amongst the three most recent wells as they are indicative of the types of wells that can be brought in through this horizontal play. We would like to highlight the Kodiak well in particular; the Kodiak is currently flowing up the casing, having reached a recent peak of 1,432 BO and 1.54MMCF of Gas. In just the 12 days that this well has been on line it has returned of 11,337 BO and 11.33 MMCF of Gas. The Kodiak initially surpassed the single daily production rate of the School Land well, which reached a peak daily rate of 1,475 BOEPD with an EUR of over 1MM BOE according to Wright and Company, third party Engineers.

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company currently holds interests in Texas, Kansas and Oklahoma where their targets are established plays such as the Eagle Ford Shale, Mississippi Limestone and Hunton Limestone trends. For additional information on the company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact:

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: [email protected]
Web: www.mzgroup.us

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...