Lario Oil & Gas Company has completed a second high-rate horizontal Wolfcamp test, the Peggy A 102WA, in Midland County Texas. The well was drilled with a 9,650 ft lateral and had a 24 hour IP rate of 1,690 boe/d (84% oil) and 30 day average of 1,488 boe/d. The well has produced 38,276 BO and 44,635 BOE in 30 days.
According to the company, this well offsets Lario’s Peggy 101WB well which had an IP rate of 2,450 boe/d in March, ranked in the top four IPs in the Northern Midland Basin. It’s located between Pioneer’s O’Daniel, Hutt and Shackelford areas where Pioneer has successfully tested all the primary reservoirs of the stacked Spraberry and Wolfcamp play.
Lario said it plans to focus its 2016 Permian horizontal development program with wells in both Midland and Martin counties.
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