PLANO, TX -- (Marketwired) -- 09/06/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the frac stimulation has been completed on its Flying B Ranch #3H well.
All 28 stages were delivered per the Company's plan and the coiled tubing unit is now on location to prepare the well for flow back after drilling out the plugs. Torchlight expects flowback to begin immediately following this procedure and that the 350,000 barrels of frac load water used during the stimulation will be extracted before the end of September.
"The team at Maverick and AST did a great job of executing on the frac delivery," stated John Brda, CEO of Torchlight Energy. "We were able to perform the stimulation according to the plan laid out at the onset. We are excited to be entering the flowback period which will ultimately allow us to gauge Initial Production (IP) rates for this well. We look forward to providing our next update as soon as measurable results are available."
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.
Forward Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Source: Torchlight Energy Resources, Inc.