Click here to close now.



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.

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
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
With microservices, SOA and distributed architectures becoming more popular, it is becoming increasingly harder to keep track of where time is spent in a distributed application when trying to diagnose performance problems. Distributed tracing systems attempt to address this problem by following application requests across service boundaries, persisting metadata along the way that provide context for fine-grained performance monitoring.
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
The maker of automated server migration software reports sales bookings increased 460 percent year-over-year and last week IDC forecast spending on public cloud services will grow to more than $141 billion in 2019. Seems (at last) we are at the tipping point where enterprises are adopting cloud in a big way opening opportunities for those who can help with the transition.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...