Nitro Petroleum Inc. (OTC:NTRO) is extracting 40 barrels of oil per day, initial production, from its Giant #2-21 well in the Upper and Lower Sears Sands, the company said Jan. 2.

Additionally, about 50 thousand cubic feet (Mcf) of waterless gas is being extracted, the company added.

The well in the Stephens County, Okla. field has been running for two weeks, the company said.

Nitro Petroleum is a Shawnee, Okla.-based oil and gas E&P company.