Caza Oil & Gas Inc. is making progress on its Caza Ridge horizontal Bone Spring program, with its latest well producing at a peak 24-hour rate of 1,004 bbl and 1.3 MMcf of gas.
The well is on the company's Copperline property in Lea County, NM. The Caza Ridge 14 State No. 4H was fracture stimulated in 24 stages. The well is the company's second successful third Bone Spring interval well on the Copperline acreage. Log data and core samples were also obtained across the Brushy Canyon, Avalon and second Bone Spring Sand intervals, Caza said.
The data indicates the presence of oil and natural gas across each of these intervals, which is favorable for the future development of these shallower sections, the company said. Management said it believes the deeper Wolfcamp formation on the property is also prospective for oil and natural gas.
"The positive log and core data in the shallower intervals not only creates future development opportunities, but will also add to the company's reserve values," said CEO Michael Ford. "Production from this well and the property will further increase Caza's oil-to-gas production ratio and add significant cash flow to the company."
Caza has a 58.75% working interest (44.8% net revenue interest) in the Caza Ridge 14 State No. 4H well.
The company is active in the Permian Basin in West Texas and Southeast New Mexico and on the Gulf Coast in Texas and Louisiana.