Market Overview

U.S. Energy Corp. Announces Successful Three Forks Test Well (USEG)

Share:

U.S. Energy Corp. (Nasdaq: USEG) today announced the initial production rate from its State 36-1 #2H well which was recently completed with Brigham Exploration Company (Nasdaq: BEXP) in the Williston Basin of North Dakota, and provided an update on its oil and gas drilling initiatives in the Williston Basin.

The State 36-1 #2H well, the first Three Forks test well completed under the Drilling Participation Agreement ("DPA") with Brigham in the Rough Rider acreage area, produced approximately 1,872 barrels of oil and 2.91 MMCF of natural gas per day or 2,356 BOE/D during an early 24-hour flow back period. The well was completed with swell packers and 31 fracture stimulation stages.

U.S. Energy's initial working interest in this well is approximately 17% (~13% net revenue interest). The original well in the unit was the State 36-1 #1H, which had an initial production rate of 3,807 BOE/D in the Bakken formation. Oil sales from this well have commenced.

Posted-In: News

 

Related Articles (BEXP + USEG)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Warnaco Acquires Italian Franchise Operations (WRC)

Netflix Inc. Chairman Sells 10,000 Shares of NFLX