Oklahoma City-based Riley Exploration-Permian LLC reports initial strong production from the Brushy Bill well it drilled in the Permian Basin.
Chairman and CEO Bobby Riley says the results from the well in the Company’s Champions asset in Yoakum County, Texas n the San Andrews formation are “compelling.”
The Brushy Bill had first oil production on May 15, 2018 and has seen cumulative oil production of nearly 60,000 barrels of oil. It has production averaging nearly 500 barrels of oil a day for the last 60 days.
“We are very excited with the encouraging results from the Brushy Bill well, which we believe will be another key area of future growth for us in our Champions assets, where we have approximately 21,600 net acres,” said Riley. “We intend to drill two offsets to this well in early 2019 to further delineate this southeast area of our Champions asset. We intend to devote significant resources to achieving profitable growth, executing on our strategy, and further demonstrating the value of our acreage.”
The Company’s operational focus on infrastructure development was a key element in mitigating the water disposal infrastructure limitations which has enabled the well to produce very positive results. The Brushy Bill well was drilled to a total depth of 12,812 feet and targeted the San Andres formation.
