Texas Energy Group, LLC along with its industry partners and affiliate operating company, Resaca Resources, LLC, completed the drilling of the Cleveland Townsite #1 well last week. The well was drilled to a total depth of 9,670’, encountering three potential productive upper Wilcox formations that are all considered prolific in the area.
“The well drilled out exactly as expected with the structure matching our geological predictions. The log, cores and formation tests are very encouraging as to the potential of oil discovered and possible future production,” stated Waylan Johnson, President of Texas Energy Group, LLC. He further stated,“The ability to find oil conventionally in proven mature fields is alive and well, proven once again by this Cleveland Townsite well.”
The Cleveland Townsite #1 well was offered in TEG’s CTS Project, which included participation from industry partners and TEG investors alike. TEG continues to develop numerous areas in Liberty, Montgomery and Tyler County, Texas with expectations of drilling several more wells in the coming months.
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web where you can sign up for the TEG (corporate) mailing list and receive up to date information on general TEG activities, including all TEG press releases.
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