$WGAS - Worthington Energy Reports 4 Point Test
Post# of 18851
$WGAS - Worthington Energy Reports 4 Point Test Results on I-1 Well
SAN FRANCISCO, Oct. 8, 2012 /PRNewswire/ — Worthington Energy, Inc. ( WGAS ) (“Worthington” or the “Company”), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, today reports the results of the October 3, 2012 “4 Point Test” on the Company’s I-1 Well. The 4 point test, which is required by the Railroad Commission of Texas (RRC), the state regulatory agency for the oil and gas industry, measures the deliverability of a well as defined by the well’s capacity to produce, and is used by the RRC to allocate production quotas.
“We brought the I-1 Well on line in order to complete the 4 point test. The well was opened on a 7 choke and was allowed to stabilize for three (3) hours,” stated Worthington Energy, Inc. President & CEO, Mr. Tony Mason. “We flowed well on both a 6 choke and a 7 choke, and the extrapolated oil rate flow ranged between approximately 200 to 400 BOEPD (barrels of oil equivalent per day).” Choke valves are used to control high pressure flow, especially in flow from oil and gas wells; the larger the opening, the greater the flow.
“Overall, this is an excellent result,” continued Mr. Mason. “In order to enable steady oil and gas production to take place, the 6 choke will be our initial production choke once we get the pipeline charged, The oil produced was 38.3 API WTI. Based on these results the I-1 will probably end up being classified as an Oil Well and not a Gas/Condensate Well.”
“The pipeline pressure was up to 80 psi but we still need to be at least 300 to 400 psi in order to begin 24 hour production. We are currently pressuring up the line and should be fully charged in the next few days,” concluded Mr. Mason.
About Worthington
Worthington engages in the acquisition, exploration, development and drilling of oil and natural gas properties. Worthington is an energy turnaround company whose strategy is to acquire cash flow producing properties with proved and probable reserves, develop the fields by reworking existing wells and drilling new wells. Worthington was founded in 2004 and is based in San Francisco, CA. More information can be found on Worthington Energy, Inc. by visiting the Company’s website at www.wenergyinc.com .