Striker Oil & Gas Inc., Houston, (OTCBB: SOIS) has drilled its third well on its Catfish Creek prospect in East Texas total depth of 10,815 feet.
The well was drilled to test the Bacon Lime and Gloyd sections of the Rodessa and the Pettit formations. The prospect consists of more than 9,000 gross acres with depths earned to 100 feet below the base of the Pettit formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately 33% working interest before payout (25% after payout).
Striker chief executive Kevan Casey says, “We are happy that we have successfully drilled our third well on our largest prospect. We expect to begin the completion phase of this well within the next 30 days at which time we will attempt a completion in the Pettit gas zone.”
Striker has oil and gas operations on the Texas Gulf Coast, East Texas and southern Louisiana.
Goldman Sachs Expects Commodities Supercycle
2023-03-21 - Jeff Currie, global head of commodities for Goldman Sachs said oil prices will be driven higher by capital flight from the energy market after problems in the banking sector.
Hi-Crush to Deploy Mobile Frac Sand Unit with Pioneer Natural Resources
2023-03-21 - Hi-Crush said it is deploying a second mobile damp sand mining unit with Pioneer Natural Resources following successful operations with the company in September 2022.
Huge Phillips 66 Biofuels Project Will Test the Industry’s Green Promises
2023-03-21 - Phillips 66 says the renewable diesel plant, Rodeo Renewed, will significantly cut certain regulated pollutants and lead to large cuts in greenhouse gasses.
AI, ML Improve Simulations, But Still Vulnerable to ‘Artificial Stupidity’
2023-03-21 - Synthetic data generation can flesh out models to help machine learning and artificial intelligence visualize trends and create better simulations.
BP Delivers Profits of $27.7 Billion in 2022
2023-02-07 - London-based BP Plc reported an underlying replacement cost profit of $27.7 billion in 2022 while reducing net debt to $21.4 billion and achieving an average return on average capital employed of 30.5%. In 2023, the company will remain focused on delivery of its financial frame underpinned by a $40/bbl balance point.