Torchlight Energy Resources said Tuesday that it will commence drilling operations on the Flying B Ranch #2 on its Hazel Project well in the Midland Basin on or about Dec. 28.
“Drilling this well will help to delineate acreage and provide us with necessary data in validating the play and our plan of development. Our principal strategy here is to create control data through strategically placed wells across the acreage while building a horizontal development thesis for our entire 12,000 gross acre position. Proving up this play will be extremely accretive to Torchlight as the Permian Basin continues to see increased activity and at increased prices,” said CEO John Brda. Shares were marginally higher in recent morning trade.
By Fred Canto