FOR IMMEDIATE RELEASE (VIEW PDF)
August 22, 2016
Okfuskee County, Okla. – Wright Drilling & Exploration, Inc. announced today the start of its next oil well project in a series of projects in Okfuskee County, OK. The project, the Waylon #1, is located northwest of Okemah in Okfuskee County, OK.
“We are pleased to commence our next exploration drilling project, the Waylon #1, in Okfuskee County, OK. We believe this well has great potential and follows our successful Loma Linda No. 1 project located nearby,” says Michael W. Wright, Chairman and CEO of Wright Drilling & Exploration.
Wright Drilling & Exploration plans to commence drilling at the site this week, spudding the well and achieving total depth within a week. Log evaluations and core sample assessments from the wellbore are planned to confirm the presence of multiple hydrocarbon bearing zones.
The Waylon #1 is an off-set oil well adjacent to existing oil-producing wells with multiple stacked pay zones. It is the second wellbore in a multi-phase oil and natural gas exploration project planned in Okfuskee County, OK. Based on geological surveys, electronic logs, soil sampling and statistical studies of other oil producing wells in the area, Wright Drilling & Exploration believes its initial projects are predicted to offer solid returns and long lasting production of recoverable oil and natural gas.
Partnering with Wright Drilling & Exploration Inc. on this endeavor is C&C Productions, LLC.
Wright says he expects this well to complete and continue the company’s growth trend of one new project a month.
Wright Drilling & Exploration, Inc. is an emergent North Texas-based oil and gas exploration investment company specializing in creating Limited Liability Companies for direct participation drilling and exploration ventures for accredited investors. Oil and natural gas investments can provide tremendous tax benefits to its investors.