Friendly Energy Aquires Barnett Shale Prospect
The company has acquired an acreage containing 12 existing wells on three contiguous leases located in the South Western Region of the Prolific Barnett Shale Region. These existing wells are producing 5-7 barrels of oil per day currently with a historical production of approximately 82,000 barrels.
The Panther Creek Prospect will be a water flood/pressure maintenance project with the potential to produce up to an estimated 165,000 barrels of Oil.
