Caza Oil & Gas Inc. (OTC: CAZFF) detailed an update on a third Bone Spring well on its nonoperated Marathon Road property, the company said March 23.

The Marathon Road 15 NC Fed #1H development well reached 15,515 feet total depth in the third Bone Spring Sand interval and was subsequently fracture stimulated in multiple stages.

Under controlled flowback, the producing rates increased and the well produced about 1,203 barrels of oil equivalent (boe) at a 24 hour gross rate. This amount was comprised of 1,037 bbls of oil and and 995 thousand cubic feet (Mcf) of natural gas.

The company also said that log data was obtained from the 15NC-1H well and the Marathon Road 15 OB Fed #1H well in the Brushy Canyon, Avalon and first and second Bone Spring Sand intervals. The data indicated the presence of oil and natural gas across each of these intervals.

Caza currently has a 14.7% working interest in the 15NC-1H well, and a 14.7% working interest in the 15OB-1H and 15PA-1H wells.

The Woodlands, Texas-based Caza Oil & Gas Inc. acquires and develops U.S. hydrocarbons through Caza Petroleum Inc.