AUSTIN, TEXAS — Texas American Resources Company (“TARC” or the “Company”) today announced that its initial Niobrara well, the Talmadge 44-17H, produced at a peak 24-hour rate of 446 barrels of oil per day. The well, located in Laramie County, Wyoming, was drilled to a total measured depth of 11,498 feet with a lateral length of 4,518 feet and was fracture stimulated with 12 stages.
David Honeycutt, President and CEO of TARC said, “The Talmadge well is a good first start for our company in the burgeoning oil-prone Niobrara play. We are confident that our acreage is absolutely in the right zip code and the upside potential affords us multiple options moving forward. The more you know about the DJ Basin the more you like it.”
LEGAL DISCLOSURE: Certain statements in this news release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, particularly any express or implied statements concerning future financial condition or operating results. Although Management believes that the expectations reflected herein are reasonable, the matters discussed in this release involve risks, uncertainties, and other factors that may delay, prevent or adversely affect the transaction or the Company’s planned activities and operations. There can be no assurance that such expectations will prove correct. All forward-looking statements are expressly qualified by this cautionary statement.
SOURCE: Texas American Resources Company