Wright Drilling & Exploration Starts Third Oklahoma Oil Well Project Near Shawnee, OK
FOR IMMEDIATE RELEASE (VIEW PDF)
October 4, 2016
Pottawatomie County, Okla. – Wright Drilling & Exploration, Inc. announced today the start of its next oil well project in Pottawatomie County, OK. The project, the Hillerman #1, is located west and southwest of Shawnee, OK.
“We are pleased to start our next exploration drilling project, the Hillerman #1, in Pottawatomie County, OK. We believe this well has great potential and follows our two recently successful projects located in Oklahoma,” says Michael W. Wright, Chairman and Chief Executive Officer of Wright Drilling & Exploration.
Wright Drilling & Exploration spudded the well and plans to achieve 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 Hillerman #1 is an off-set oil well adjacent to existing oil-producing wells with multiple stacked pay zones. 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.
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.