Strike Energy (ASX: STX) and its partners have spudded an infill well in Texas aimed at increasing conventional oil production and testing a deeper shale formation.
The 7500 acre (30.35 square kilometre) MB Clearfork Project in the Permian Basin, which is operated by Houston-based Torch Energy Advisors, currently produce oil at a rate of about 100 barrels per day (bpd) from the Middle Clearfork Formation.
Besides targeting this formation for additional production, the MB Clearfork Unit-16 infill well will also intersect, log and obtain core from the underlying Lower Clearfork Shale, which has not being developed.
This data will be used to assess the production potential of the Lower Clearfork Shale, which has been independently assessed to contain in-place oil of about 1.35 billion barrels of oil across the project area.
Strike has a 25% interest in the MB Clearfork Project.
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