Pegasi Energy Resources Corp. (OTCBB:PGSI), an East Texas based oil and gas exploration and production company headquartered in Tyler, Texas, today reported the production performance of its Haggard A well in Marion County, Texas.
The Company fracture stimulated the well on April 2, 2013 and flowed the well back. Following flow back of the fracture stimulation fluids, the well achieved an AOF (absolute open flow) daily production rate of 1,341 MCF gas and 17 BBLS condensate. The Haggard A is the third development well in the Rodessa (Norbord - Travis Peak) field discovered by Pegasi in 2010.
Mr. Michael Neufeld, President and CEO of Pegasi said; "We are pleased with the production rate of the Haggard A well. The performance of the Haggard A confirms the opportunity to drill further wells to develop the Rodessa (Norbord- Travis Peak) field in Marion County."
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More
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