Osage Exploration and Development Inc. (OTCBB: OEDV) reported preliminary production results on the Mallard 1-16H Horizontal Mississippian well in Logan County, Okla.
The well achieved a 24-hour peak initial production rate of 705 barrels of oil plus associated natural gas on an electric submersible pump and a 48/64 inch choke.
“Further to our most recent press release, this well is a prime example of the progress in field operations that we are currently experiencing,” said Kim Bradford, Osage's chairman and CEO, in the release. “Our new production superintendent and his expert consultants are having an immediate impact on every well that we have drilled so far, and have to be given credit for our recent advances. Under their tenure, the Mallard 1-16H, which did not produce at a high level early on, has now made more oil in the last week than it did in its first two months of production. The well has just begun operating at its full potential. We firmly believe that our team's experience with the Mallard will be the rule and not the exception, and that the quality of this reservoir is not to be denied.”
Osage Exploration and Development Inc. is an independent energy company focused on the Horizontal Mississippian and Woodford plays in Oklahoma. The company is headquartered in San Diego.