Highlands Natural Resources Plc (LON:HNR) has told investors that it has successfully concluded well completion operations for the six recently drilled wells at the East Denver project in Colorado.
Flowback has so far commenced in three of the six wells and is expected in the remainder over the next two weeks.
“Provisional data from the three new wells flowing back … indicate that these wells should perform in line with the existing two wells drilled by Highlands, which have been ranked in the top 3% of all Niobrara wells in the Denver Julesburg basin,” the company said in a statement.
Highlands noted that it will own a 7.5% interest in eight producing wells at East Denver once the full well programme has been completed. This is expected to position the company for revenues from the project throughout 2019.