US-centric oil development firm Nighthawk says it is looking to develop new wells at a US prospect after finding oil in its latest test.
The Snowbird 9-15 well, on Colorado’s Arikaree Creek, produced a 28ft column of gross oil pay, similar to the well at Silverton 16-10 which began production earlier this month.
Although the payzones were lower than those in the area, and movable water was found in the formation, the company said it did not expect that to have an effect on production or costs.
“The discovery of an oil pay zone in the Snowbird 9-15 well points to a significant southerly extension to Arikaree Creek and opens up multiple locations for potential new producing wells,” said Nighthawk chiarman Stephen Gutteridge.
Production is expected to begin on the Snowbird 9-15 well within the next couple of weeks, with further drilling in the Arikaree Creek area by the end of the year.