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April 23, 2014
10:09 EDTTRCHTorchlight Energy says daily production rose to over 250 BOEPD at end Q1
Torchlight Energy Resources reported increased daily production to over 250 BOEPD at the end of Q1, more than double compared to 114 BOEPD at December 31, 2013. The company said, "We are pleased with the increase in net production and gross number of wells from the end of 2013 to Q1 2014. More importantly, we have a nice inventory of new wells coming on in early Q2 in the Hunton and we have not announced any contribution from the JV with Ring Energy in SW Kansas. We expect to make even greater gains in Q2 as we continue to successfully complete new wells on a weekly basis and we are on target to meet our goal of 90 new wells this year with 28 currently in various stages of production, drilling or completing."
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