Drilling & Completions | Key Wells
Point Loma Changes Completion Plan for First Rex Oil Well; Larger Size Fracs
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Point Loma Resources has successfully cased its recently captured Rex oil opportunity.
Completion plans for the well include ~28 frac stages, which is larger than initially planned.
The Corporation intends to complete and evaluate the Rex well in December and would then flow back including flowing back and testing the well after the multi-stage frac operations. Given the potential noted during the drilling of the well Point Loma has elected to focus on enhancing the completion of this well utilizing larger size fracs than originally planned to optimize the production capability from the zone.
As a result, Point Loma now plans to limit the current drilling program to the Rex well at Wizard Lake in order to allow for a more optimal completion and to preserve capital in the current challenging commodity market.
The well is expected to be completed and evaluated prior to year-end. The second well of the program is licensed and is expected to be drilled in the new year.
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