$JROOF Jericho’s STACK JV owns a 47% working interest alongside Staghorn Petroleum II LLC (Staghorn) in the Wardroom. Current ultimate recovery projections place the potential rate of return at greater than 75% (assuming $60bbl / $3mcf).
Well productivity from the Wardroom illustrates the significant role lateral placement coupled with advances in stimulation technique has in developing the resource potential of the Meramec shale deposits of the northern STACK. The Wardroom was drilled 95% within our defined target section. Shane Matson, Director of Geology for Jericho Oil, stated, “having performed a bottoms-up analysis of 20 proximate Meramec formation wells, it became clear that lateral placement had been a defining variable in the productivity of this formation in the northern STACK.”
Stack operators of wells targeting the Meramec shale in 2017 proximal to the Wardroom have announced comparable results confirming the productive potential of the region. Two miles east of the Wardroom, Staghorn’s well (Crow’s Nest 19-12-08 1H) in SEC 8 T19N R12W, achieved a peak 24-hour rate of 1,180 boepd (76% oil), at 240 boepd per 1,000 ft. Moreover, three miles north of the Wardroom, Chesapeake Energy’s well (Bravo 28-20-12 1HC) in SEC28 T20N 12W achieved a peak 24-hour rate of 2,221 boepd (79% oil), at 223 boepd per 1,000 ft.
https://finance.yahoo.com/news/jericho-oil-an...Pvam3E3g--
Well productivity from the Wardroom illustrates the significant role lateral placement coupled with advances in stimulation technique has in developing the resource potential of the Meramec shale deposits of the northern STACK. The Wardroom was drilled 95% within our defined target section. Shane Matson, Director of Geology for Jericho Oil, stated, “having performed a bottoms-up analysis of 20 proximate Meramec formation wells, it became clear that lateral placement had been a defining variable in the productivity of this formation in the northern STACK.”
Stack operators of wells targeting the Meramec shale in 2017 proximal to the Wardroom have announced comparable results confirming the productive potential of the region. Two miles east of the Wardroom, Staghorn’s well (Crow’s Nest 19-12-08 1H) in SEC 8 T19N R12W, achieved a peak 24-hour rate of 1,180 boepd (76% oil), at 240 boepd per 1,000 ft. Moreover, three miles north of the Wardroom, Chesapeake Energy’s well (Bravo 28-20-12 1HC) in SEC28 T20N 12W achieved a peak 24-hour rate of 2,221 boepd (79% oil), at 223 boepd per 1,000 ft.
https://finance.yahoo.com/news/jericho-oil-an...Pvam3E3g--
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