Breitling Oil and Gas Continues Developing Its Gulf Coast Onshore Acreage
IRVING, TX (April 29, 2011) –
Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced today that it has spud the Breitling-Salsa #1 in San Patricio County, Texas as it continues to develop its “Gulf Coast Onshore Initiative” that began in May 2010.
The Breitling-Salsa #1 Prospect is expected to be drilled to 4800 feet to test Upper Frio-aged oil and gas sands. The drill site is near two fields that together have produced 210 million BO and 314 BCF. The prospect is targeting stacked Frio objectives in a four-way closure (anticline) updip to oil production in the Plymouth Field (125 million BO and 134 BCF). The primary objectives of the Breitling-Salsa Prospect are 3 proven productive zones in the Greta Stringer formation and 2 zones in the Greta Massive formation. The anticlinal structure is generally defined by subsurface well control with the interpretation and proposed location confirmed by integrating 3D Seismic.
Management anticipates the well will reach total depth in about 8 days. Well completion and testing on the Breitling-Salsa #1 well should begin during the third week of May 2011.
Breitling Oil and Gas CEO Chris Faulkner stated, “You have huge surrounding production from the Frio, Miocene and Vicksburg-aged sandstone reservoirs in this area.” Faulkner added, “The Breitling-Salsa has great potential to IP above 200 barrels of oil per day and show us cumulative production above 700,000 barrels.”
For more information on this and other activities of the Company, see the Breitling Oil and Gas web site at http://www.breitlingoilandgas.com.
Breitling has current oil and gas exploration projects all over the United States.
—About Breitling Oil and Gas Corporation–
Breitling Oil and Gas was founded in October 2004 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.