Recovery Energy Provides Update on Silo East Prospect in Wymoing
Recovery Energy (NASDAQ: RECV) today announced the successful results of its remediation and workover of the Anderson 32-2 well on its Silo East Prospect located in Laramie County, Wyoming. The Company is pleased to report that the Anderson 32-2 is currently producing 50-60 BOPD, up substantially from the approximate production level of 3 BOPD prior to initiation of the remediation procedures.
In June 2013, Recovery Energy Inc. acquired a 50% interest in the 1,200 acre area that comprises the Silo East Prospect, including a 50% interest in the Anderson 32-2 well. A re-entry program was designed for the Anderson well with a view toward enhancing the productivity of the Muddy "J" formation by perforating additional areas of the formation and stimulating the formation with a hydraulic fracture treatment. The Company believes that the successful conclusion of these procedures establishes a "proof of concept" completion program for the prospect and sets up several potential offsets to the Anderson well. The Company anticipates that at least two additional offsets will be drilled by the end of the first