Hugoton Energy Corporation Reports Significant Oil and Condensate Discoveries in Kansas

Strategic Insights -

Hugoton Energy Corporation has announced the drilling and completion of several significant oil and condensate extension wells in Seward and Haskell Counties, Kansas. The company has successfully drilled 12 wells in the multi-pay Victory Pool area, with 10 of them flowing oil. The wells have also produced natural gas, with one well, the Homsher 6-33, flowing 1,596 MCF of natural gas per day from a Kansas City zone. The company plans to continue development in this area and has selected several additional drilling locations.

Key Takeaways:

  • Hugoton Energy Corporation has drilled 12 wells in the multi-pay Victory Pool area, with 10 of them flowing oil.
  • The Homsher 6-33 well flowed oil and 1,596 MCF of natural gas per day from a Kansas City zone.
  • The company plans to continue development in the area and has selected several additional drilling locations.
  • The MLP Clawson 4-9 well was completed as a flowing oil and natural gas well from the Mississippian Chester formation in Haskell County.
  • The MLP Clawson 1-9 and 2-9 wells were recently placed on production with a combined flow rate of over 300 barrels of oil and 1,200 MCF of natural gas per day.
  • The MLP Clawson 3-9 well is currently being completed.
  • Hugoton Energy Corporation owns a 55% working interest in the Homsher wells and a 50% working interest in the MLP Clawson wells and the MLP Rooney 1-5.
  • The company has drilled a total of 26 wells during the first eight months of 1995 and completed 21, for a success rate of 81%.
  • Hugoton Energy Corporation has reduced the total number of wells it plans to drill during 1995 to 50 wells due to current industry conditions, compared to the 78 wells that were drilled during 1994.

Statistics:

  • 12 wells drilled in the multi-pay Victory Pool area
  • 10 wells flowing oil
  • 1,596 MCF of natural gas per day produced from the Homsher 6-33 well
  • 300 barrels of oil and 1,200 MCF of natural gas per day produced from the MLP Clawson 1-9 and 2-9 wells
  • 50 wells planned to be drilled during 1995, down from 78 wells drilled in 1994
  • 81% success rate for wells drilled and completed during the first eight months of 1995
  • 26 wells drilled during the first eight months of 1995
  • 21 wells completed during the first eight months of 1995

Sources:

  • Hugoton Energy Corporation press release, September 5, 1995
  • Hugoton Energy Corporation, "Hugoton Energy Corporation Reports Significant Oil and Condensate Discoveries in Kansas" press release, September 5, 1995