Osage Exploration & Production Inc. had high hopes for its acreage in Logan County, where officials believed they could tap into the lucrative Mississippian oil play.
Turns out they got more than they bargained for from the California company's first well near Crescent.
CEO Kim Bradford said the Wolf well produced four times as much oil and natural gas as the company expected during its first three days.
The well produced an average of 1,185 barrels of oil equivalent a day during that span before settling in at about 876 barrels a day during its first 30 days. About 85 percent of that production was oil.
“It's beyond anything that we could hope for,” Bradford said.
Bradford said Osage hoped to get about 235 barrels a day from the well to make it economical.
The small publicly traded company chose Logan County because Vice President of Exploration Greg Franklin, a geologist, liked the characteristics near the Nemaha Ridge, an underground fracture that occurred when Oklahoma was still a tropical area in the Southern Hemisphere.
“Our geological theories, I believe, have an unbelievable chance of being proved correct over time here,” Bradford said. “Greg got us in the place. It was everything he said it would be.”
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