(ASX: STX) and its partners will add another oil producer to their MB Clearfork Project in Texas.
The MB Clearfork Unit-16 infill well has been cased and will be completed as an oil producer from the Middle Clearfork Formation later this month.
The 7500 acre (30.35 square kilometre) MB Clearfork Project in the Permian Basin, which is operated by Houston-based Torch Energy Advisors, currently produce oil at a rate of about 100 barrels per day (bpd) from the Middle Clearfork Formation.
MB Clearfork Unit-16 also intersected 98 metres of gross shale in the undeveloped Lower Clearfork unit.
This zone is a secondary objective of the well, with data gathered used to assess the production potential of the Lower Clearfork Shale, which has been independently assessed to contain in-place oil of about 1.35 billion barrels of oil across the project area.
Strike has a 25% interest in the MB Clearfork Project.
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