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Two BNK Wells Flowing Back in Oklahoma's Caney Shale

BNK Petroleum Inc. said two wells in Oklahoma's Tishomingo Field have been flowing back after hydraulic fracturing (fracking) operations, but one well is still cleaning up from heavy flooding in the state.

In a note Monday, the Camarillo, CA-based company said its Nickel Hill 36-3H well (99.4% interest) and its Emery 17-1H well (98.7% interest) have been flowing back after receiving 22 and 12 fracking stages, respectively. Both wells are targeting the Caney Shale, a shallow oil formation in the Ardmore Basin (see Shale DailyDec. 31, 2014).

BNK said production from the Nickel Hill well over the last week averaged about 435 boe/d, including 245 bbl of oil. The company said the well was still cleaning up, as it restricted flowback more than normal due to recent heavy flooding.

"The well was drilled in an area of the field that has a more complex localized structure, with the expectation that this would enhance production," BNK said. "It continues to free flow without an artificial lift and is exhibiting a stronger mix of gas to oil than other Caney wells in this area.”

Management said it believes “that some portion of this higher pressured gas is being channeled from a deeper source through a complex fault and fracture system that defines the northern limb of this localized structure” and it expects “the decline rate to be quite shallow as a result of the increased gas with ultimate recovery in line with our type curve."

Meanwhile, the 21-day initial production rate from the Emery well was about 194 boe/d, which included 164 bbl of oil. BNK said production over the 21-day period had declined much less compared to earlier wells targeting the Caney Shale.

BNK said its current field production averaged about 1,750 boe/d. The company said it was finalizing drilling and completion cost estimates for three additional wells.

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