BOERNE, Texas, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Upland Exploration, Inc. (“Upland”) has announced record initial production from its first Niobrara well from a planned seven-well pad recently completed in Weld County, Colorado, including the highest reported 24-hour peak oil production per completed lateral length for any horizontal formation well within the Denver Julesburg Basin.(1) “While we continue to refine our methodology, a record result for the entire basin on our first well supports our overarching thesis that historically this great resource rock has been under-stimulated. The 22-1NH highlights the effectiveness of utilizing a modern completion design,” said David R. Watts, Upland's President. “This is a great starting point, and we will continue to make step-change improvements in performance throughout the development of the Little Lady pad and ultimately our broader position in the area.”
Upland, an independent oil and gas exploration and production company based in Boerne, TX, completed the Little Lady 22-1NH horizontal well (API: 05-123-49881) across 4,883 feet of productive lateral within the Niobrara B. The well achieved a 24-hour peak production rate of 1,396 barrels of oil equivalent per day on a two-stream basis (82% oil), the equivalent of 285 Boed per thousand feet of completed interval. The well was completed with modern completion and stimulation techniques utilizing more than 1,800 pounds of proppant and 2,200 gallons of water per foot of lateral length.
“We are greatly encouraged that our well results indicate an outperformance over legacy producers,” said Mr. Watts. “As we have applied increased fluid completions, we have seen the results continue to improve as has been proven in every major U.S basin. The excellent well performance of our high oil IPs and increased EURs is corroborated by extensive geological data suggesting the results are repeatable across our sizable position. To this end, we are planning to drill an additional five wells on the Little Lady pad with development continuing later this year.”
For more information, please contact:
David R. Watts
david@uplandexploration.com
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(1) Laterals over 4,000’ spud post-2010