Houston American Energy Announces Drilling Plans On Finkle Unit In Reeves County; First Well Is Scheduled To Spud By June 30, 2024 With All 6 Wells Anticipated To Be Spud By September 1, 2024, Cost Of Participating In The Drilling Program Is Estimated At $600K
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Houston American Energy Corp. (NYSE:HUSA) announced plans to participate in the drilling of six wells in Reeves County, Texas, with EOG Resources as the operator. The first well is scheduled to spud by June 30, 2024, and all six wells by September 1, 2024. Houston American's participation cost is estimated at $600,000.
June 17, 2024 | 9:04 pm
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EOG Resources will act as the operator for a new drilling program in Reeves County, Texas, involving six wells. Houston American Energy will participate with a minor working interest.
As the operator and principal working interest owner, EOG Resources stands to benefit from the successful execution of the drilling program, potentially boosting its revenues and stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Houston American Energy Corp. (HUSA) announced its participation in a drilling program for six wells in Reeves County, Texas, with an estimated cost of $600,000. The first well is expected to spud by June 30, 2024.
The announcement of a new drilling program indicates potential future revenue streams for Houston American Energy, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100