FIG Tree Capital Ventures Announces Two Huge Well Completions in the Oklahoma STACK
FIG Tree partnered with Continental Resources (CLR) to drill and complete the Miller Family 1-13-24XH and Yoder 1-13-12XH to the Meramec Formation in Custer County Oklahoma.
- McAllen-Edinburg-Pharr, TX (1888PressRelease) June 08, 2018 - FIG Tree Capital Ventures, a Texas based venture capital firm, with projects in the Oklahoma STACK and SCOOP, the Williston Basin (Bakken/Three Forks Shale) of North Dakota, and the Woodbine Eaglebine Formations of South East Texas, announces two newly completed wells with huge initial production. FIG Tree partnered with Continental Resources (CLR) to drill and complete the Miller Family 1-13-24XH and Yoder 1-13-12XH to the Meramec Formation in Custer County Oklahoma. The Miller Family well’s 24-hour production rate reached a peak of 17,589 mcf of gas and 91 bbls of oil. The Yoder well’s 24-hour production rate peaked at 17,135 mcf of gas and 60 bbls of oil.
FIG Tree acquired acreage in Custer County several years ago when the company first began targeting the SCOOP and STACK. Garland Benton, the company’s Director of Business Development said, “We specifically targeted acreage in this area of Custer County anticipating strong potential in both the Woodford and Meramec formations and these flowback numbers confirm our beliefs.”
FIG Tree’s energy division specializes in identifying and acquiring non-operated acreage positions in the core areas of the nation's most prolific unconventional resource plays like the Oklahoma STACK and SCOOP. Since first entering the STACK and SCOOP several years ago, FIG Tree and its partners have acquired interests in more than 20 wells across Grady County, Kingfisher County, Canadian County, and Custer County and to date have seen very impressive results. A good number of those have been operated by Continental Resources (CLR).
According to Richard Main, the company’s President, “We have had great success partnering with Continental Resources over the years in the Bakken and now the SCOOP and STACK. Some of our most impressive well results have occurred with CLR as operator.”
Continental is actively developing this area of Custer County utilizing multiple rigs and drilling multiple wellbores from each pad site. Ryan Wright, the company’s CEO said, “This type of development is highly attractive to us because drilling multiple wells from the same pad saves time and lowers cap ex which improves returns. We have also noticed that CLR has improved their completion techniques during the course this development. The Miller Family and Yoder demonstrate it has obviously improved well results.”
About the Company
FIG Tree Capital Ventures is a venture capital firm in Texas that focuses on providing direct participation investment solutions in Energy, Real Estate, and Technology that are focused on revenue generation, asset appreciation, and tax benefits. Qualified investors that want to learn more, and those looking to sell non-operating interest can contact FIG at (866-894-7309) or email us at invest ( @ ) figtreecv dot com or visit http://www.figtreecapitalventures.com.
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