Texas-based Caza Oil & Gas has hit hydrocarbon finds with its first development well on the Jazzmaster Property in Lea County, New Mexico.
The Jazzmaster 17 State #3H horizontal well has reached its intended total depth of 4,668m in the second Bone Spring Sand interval and was subsequently fracked.
The well produced at a peak daily rate of 650 barrels oil equivalent (boe) – which breaks down to 569 barrels of oil and 488,000cu.ft of natural gas.
As the well is a direct offset to the Jazzmaster 17 State #4H test well, the finds are already going directly to sales, the company said in a statement.
Testing across certain intervals including the Brushy Canyon, Avalon and first and third Bone Spring Sand intervals in both wells indicated the presence of oil and natural gas, favorable for future development, the firm added.
“The completion of this first development well at Jazzmaster is another great result for the company’s Bone Spring program and exceeds expectations,” said Michael Ford, Caza’s chief executive.
“Like Caza’s other Bone Spring properties, the Jazzmaster property has multi-pay potential from the primary zones in the play, as proven by the log and core data from both wells.”
“We are very pleased with this well and the development opportunities still to come on this property.”