Nighthawk Energy Plc (LON:HAWK) announced the commencement of a three well vertical drilling programme at the Jolly Ranch project, located in Lincoln County, Colorado. The hydrocarbon and production and development company holds a 50% interest in the project and the operator, Running Foxes Petroleum, has the remaining 50%.
According to the report, interpretation of four recently acquired 3D seismic surveys covering a total of over 25,000 acres at Jolly Ranch have established potential sweet spots in the Cherokee and Atoka shale packages in addition to several conventional targets.
Out the three wells being drilled, two of them, the Craig 6-4 and the Craig 16-32, are development wells and both are located in the Bolero Field which forms part of the Jolly Ranch core development area. The third well, John Craig 11-2 is located near Limon, which is to the north of the core project location and is an area previously undrilled by Nighthawk and Running Foxes.
Nighhawk's core asset is a 50% stake in the Cisco Springs natural gas production and development project located in Grand County, Utah. In addition to this prospect, and the Jolly Ranch project in Colorado, the company has significant interests in the Devon Oilfield, Kansas, Centurion, Kansas, Cliffs, Illinois and the Buchanan and Worden, Missouri.
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