Red Fork owns 100% of over 50,000 acres at East Oklahoma, with potential to increase the acreage significantly within the same prospect.
Gas Production
Fuss #1-33 well recently tested at 160,000 cubic feet per day. With production established from this well (combined with gas produced from Fuss #1-34 well), gas production could be established at Pawnee at 200,000 cubic feet per day.
Next steps
Work will commence to lay a gas flow line so that sales can be established from the successfully tested Fuss 1-33 well. Work at Pawnee prospect at West Tulsa will focus on increasing production from existing wells (Fuss #1-33 wells, #1-34 wells and the Rosier #1-27 well).
Two of three Oklahoma assets are likely to be revenue producing following current work at East Oklahoma.
David Prentice, Red Fork managing director said, We are well on our way to meeting our goal of establishing three production centers in Oklahoma (Osage, West Tulsa and East Oklahoma).
Red Fork’s producing assets in Oklahoma has 2P reserves of 41bcf. The company plans to drill additional 10-20 wells at East Oklahoma based on cash on hand.
