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Golden Gate Petroleum Looks To Increase Oil Production From Horizontal Well In Texas

Golden Gate Petroleum (ASX: GGP) expects its total daily production to increase once the SRH-5H horizontal well in the Permian Project, Texas, completes testing and remains on production.

Average daily production for the two week period ending 31 July 2013 was 145.3 barrels of oil equivalent, up from the 97.9boe/d in the previous period.

This was due to production from SRH-5H as well as the return of SRH-4 and Sugar Valley-1 wells to production after being shut in for 9 days and 11 days respectively during the previous two week period to repair parted rods and carry out gas pipeline maintenance.

On its Permian Project wells, the company has shut-in the SRH-6 in preparation for completion and fracture stimulation.

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