7 Feb 2012drilling progress report▲ Good
Drilling has finished on the first horizontal well, the Federal #1-5H in Sheridan County, Montana, which went through about 5,000 feet of Ratcliffe formation with what the company calls encouraging results. Completion work is expected within two weeks, so no production results are yet known. The nearby vertical Federal 22-5 well averages about 45 barrels of oil per producing day, up 180% from before the acquisition, and a workover is planned on the Hoffelt 2.