Houston American Energy Corp. (NYSE MKT: HUSA) detailed updates Jan. 13 on its Iberville Parish, La., drilling operations. It also detailed its recently acquired interests in an Oklahoma prospect.
In Iberville Parish, a 13,888 foot well that was drilled and completed tested at a daily rate of 384 barrels of 37-degree API oil, the company said. The well also had 565 thousand cubic feet (Mcf) of waterless natural gas, the company added. The well is not producing yet, waiting on production facilities’ construction, the company noted.
Houston American has a 3% working interest in this well, the company said.
"We are pleased with the initial results of our Iberville well and look forward to commencing production from the well. With our renewed domestic prospect and drilling activity, we are looking to be able to report both additions to our production and a growing prospect inventory,” said John F. Terwilliger, chairman and CEO.
Additionally, Houston American acquired a 50% working interest in a 5,350 foot Oklahoma well that will be re-entered, the company said. The company is leasing roughly 400 acres in the well’s block, and also plans to drill an offset well, Houston American added.
“The Oklahoma well and leasing of the prospect block are typical of what we are hoping to accomplish. The prospect and surrounding area are characterized by predominantly oil production and generally long production lives. If our initial efforts are successful, we envision drilling as many as 15 to 20 wells on the block," Terwilliger added.
Houston American Energy Corp. is an independent energy company with interests in oil and natural gas wells and prospects. Its assets are in Texas, Louisiana and Colombia. It is based in Houston.