Target Energy (ASX: TEX) has had an encouraging start to drilling at its Fairway project targeting the Wolfberry tight oil play in Howard County, Texas, with indications that even secondary objectives are commercial.
Besides flowing oil and frac water from the Wolfberry, the BOA 12-1 well is also producing oil from the deeper Fusselman and Devonian sections.
It also intersected strong oil shows while drilling through the shallower Clear Fork Formation while wireline logs indicated the presence of potentially productive intervals in the San Andres formation.
Existing fields in the area include the adjacent Howard Glasscock field that was discovered in 1925 with production from multiple sands and the Trilogy TCG project to the south.
Howard Glasscock contains 1100 wells that have produced over 410 million barrels of oil while typical Fusselman Wolfberry wells at Trilogy produce at rates of 132 to 800 barrels of oil per day.
Target is now planning to drill the next well in the project, Fairway-2, about 3.2 kilometres northeast of BOA 12-1. This is expected in mid or late April while further drilling is scheduled for the third quarter.
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