Petro River Oil Corp. plans to accelerate drilling in the Pearsonia West Concession in Osage County, Oklahoma, according to a company press release issued on Monday.
Petro River and its operating partners plan to drill four wells this fall.
The Pearsonia West Concession includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields.
The company reprocessed 35 square miles of 3-D seismic data, which defined 4,480 acres of structural closures containing Pennsylvanian channel and Mississippian chat formations. The drilling program will test 1,610 acres.
Petro River plans to acquire an additional 55 square miles of 3-D seismic data in the southern portion of the concession in 2017.
“Osage County has been producing oil for over a century, and Petro River’s operating partners have successfully drilled more than 900 wells in Osage County near our Pearsonia West Concession,” said Stephen Brunner, president of Petro River. “We are very optimistic, based on our 3-D seismic data, which is the basis for our accelerated four-well program in the fall 2016.”
Brunner was responsible for 2,000 wells in Osage County while employed as the president of Constellation Energy from 2008 to 2014.
New York-based Petro River is an independent energy company with its core holdings in northeast Oklahoma, the Larne Basin in Northern Ireland and Kern County, located in California’s Mojave Desert. The company also has an office in Houston.
