Oil flows at third Leighton well, Global says

11th Sep 2009 08:06

Australia-based AIM-listed oil explorer Globl Petroleum said the third well at its 15% owned Leighton project in Texas has begun to flow oil and gas.The Tyler Ranch #2 well flowed oil and gas at the gross rate of 366 barrels of oil equivalent per day (boepd) from the Olmos reservoir.The flow rate is in line with Peeler #1 and Tyler #1, the first two wells drilled on the Leighton onshore project located on the Gulf Coast of Texas. The combined output rate of the three wells in production is a gross 600 boepd, of which Global’s share is 67.5 boepd.The Tyler Ranch #2 well has been hooked up to oil tanks and a gas sales pipeline so Global will start to receive revenue from the well’s output.Texan Petroleum, the majority owner of the prospect, said that drilling continues on Tyler Ranch #3, the fourth Leighton production well.The drill has bored down to a depth of 4,189 feet (1,277 metres) and is expected to hit the targeted Olmos oil and gas reservoir in six to eight days.