The Woodlands-based Ring Energy said April 14 it recently initiated the next phase of its Permian Basin northwest shelf drilling program in Yoakum County. Drilling of the first well is complete, drilling of the second well is underway, and operations on the third well are expected to begin in late April. Each well targets San Andres formation and is one mile in length.
The four wells placed on production in 2021Q1 are performing favorably, Ring said, despite some impact from the February winter storm. They produced 37,550 gross boe (94 percent oil) in March.