BROOMFIELD, CO--(Marketwired - Oct 24, 2013) - Three Forks, Inc., an independent oil and gas exploration and production company with operations and assets in Texas, Oklahoma and Louisiana, today announced initial production test of 38 BOPD on its G.A. Jennings #105 well in Archer County, TX.
The results of an initial completion report (Form W-2) on the #105, which is located on an Ellenburger formation high, will be filed at 38 BOPD and 58 BWPD. Three Forks recently completed two additional wells in the field -- the #103 at 27 BOPD and the #104 at 9 BOPD -- and the tested rate for all three wells totals 74 BOPD. The Company has two additional wells in various stages of completion with results pending. Additional drilling in the area is under consideration.
Three Forks has a 10% working interest in the Archer County Project with an additional 25% back in at payout.
"We are pleased to report that we're averaging nearly 25 BOPD initial potential tests for our first three completed wells in the Archer County Project," said Chuck Pollard, President of Three Forks.
About Three Forks, Inc.
Three Forks, Inc. is an independent energy company engaged in acquiring, exploring, developing and producing crude oil and natural gas primarily in the western United States. The Company is led by a seasoned team of executives with deep experience in the energy industry and capital formation. Three Forks has interests in producing wells in Oklahoma, Texas and Louisiana and is actively pursuing drilling programs in all three locations. In addition, the Company is pursuing numerous opportunities in prolific oil producing regions, especially in areas where the team has operational or technical expertise. The Company is focused on building a portfolio of lower risk, long-lived oil producing assets that generate stable cash flows. Three Forks is headquartered in Broomfield, Colorado.
Forward-Looking Statements
This news release includes statements that may constitute "forward-looking" statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by word such as "expects," "plans," "anticipates," "believes," "intends," "estimates," projects," "potential" and similar expressions. Forward-looking statements in this document include statements regarding the Company's plans and expectations for future drilling; expectations that the Company can fund anticipated capital projects; and expectations regarding recoveries. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Contact Information:
Contact:
Chuck Pollard
President
303-404-2160