Austin: ‘Niobrara find economic’

Green light: Austin commercialising well on Niobrara

Austin Exploration

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Eoin O'Cinneide

 24 January 2013 08:23 GMT

Australia’s Austin Exploration is wasting no time in getting its first horizontal well on a US play on line after declaring a recent find economic.

The company has already temporarily shut in the Pathfinder C11-12-1 well on the Niobrara formation in Fremont County, Colorado as it begins the process of getting long-term commercial flows from the well.

Only earlier this week, Austin saw its shares rise after saying it flowed oil and gas from the well at a rate of about 66,000 cubic feet per hour over a 12 hour period. It said at the time that it would need 30 days of monitoring both oil and gas production before it could form a definitive view on the long-term production capabilities of…

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