Onshore US exploration firm Northcote says it has met its 2013 production targets five months ahead of schedule.
The company, which has wells across Oklahoma, surpassed its 100 barrels of oil equivalent a day target last month, with production up 250% on the start of the season.
Now the compnay has upped its targets to 250 boepd by July 31 2014, with frack campaigns due to step up at the Horizon project in the state’s Osage County and new drilling planned at Woods County and Bird Creek.
“To achieve our 12 month production target of 100 BOEPD just under seven months from listing is a momentous milestone,” said managing director Randall Connally.
“We have worked hard to identify and execute a number of opportunities to grow Northcote, including the completion of accretive acquisitions, which have been complementary to the oil and gas initiatives that we have undertaken, the frack programme at Horizon and the workover programme at Oklahoma Energy.”