Highlands Natural Resources is eyeing production start-up at two shale wells in Colorado.
The London listed firm said that both the Wildhorse and Powell at its East Denver Niobrara Project were due to come on stream later this year.
The company revealed in an operational update that both wells have been fractured 55 times each for a total of 110 intervals with flow-back operations targeted for the end of October.
Highlands’ chairman and chief executive Robert Price said: “The commencement of production at East Denver is a moment that the Highlands team and our dedicated investors have long-awaited.
“In concert with our financial and technical partners, Highlands has advanced East Denver from a greenfield project to the successful completion of two wells.
“Looking ahead, we are excited about the potential to drill up to 22 additional wells at East Denver, and we eagerly await the results of Wildhorse and Powell. Highlands will update the market with production results as soon as they become available.”
Highlands began operations to drill out the plugs between each fracture stage on October 15.
Once the plugs are drilled out, Highlands will commence the flow-back process.
