CHARLESTON, W. Va.--(BUSINESS WIRE)--Cunningham Energy LLC is pleased to announce it has reached an oil production milestone in the company’s shallow horizontal drilling efforts in Clay County, West Virginia. A total cumulative measured production of over 26,000 barrels of oil have been produced from Cunningham Energy’s Cochran #5H and Cochran #6Ha wells within the past eleven and eight months respectively. Both Cochran wells are producing from the Big Injun Sand formation on the “RHINO” pad, and were the first known shallow horizontal Big Injun wells completed in the state of West Virginia. “Cunningham Energy jumped into the Big Injun horizontal oil play and has been rewarded for its continuing development.” said Ryan Cunningham, of Cunningham Energy. “We have made great strides in efficiency of drilling so far and expect that trend to strengthen in the coming year as the play matures. Our top priority is to further innovation through the latest drilling techniques and drive operating costs down, especially in the current environment. This and other shallow horizontal sand oil plays hold promise for the state of West Virginia and the Appalachian Basin as a whole.” Cunningham Energy is currently in the process of drilling and developing four new horizontal wells in Clay County on the “Lions Paw” pad in Union District.
About Cunningham Energy LLC
Cunningham Energy LLC is a private independent production and exploration company based in Charleston, West Virginia. The company was formed in 2008 for the purpose of acquiring, exploring, and producing oil and gas in the Appalachian, Illinois, and Williston Basins. Since inception, Cunningham Energy has relied on past experience in parallel with the application of new technologies to succeed in the ever changing field of efficient energy production. Cunningham Energy is positioned to take advantage of current and future trends in oil and natural gas production throughout these basins with aggressive but responsible decisions in the coming future.
Certain statements contained in this press release constitute "forward-looking statements" as defined by the Securities and Exchange Commission. Such statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," approximately," "likely," or "anticipates" or the negative thereof. These forward-looking statements are based on our current expectations, assumptions, estimates and projections for the future of our business and our industry and are not statements of historical fact. Such forward-looking statements include, but are not limited to, statements about our expectations regarding our financing, our future operating results, our future capital expenditures, our expansion and growth of operations and our future investments in and acquisitions of oil and natural gas properties. We have based these forward-looking statements on assumptions and analyses made in light of our experience and our perception of historical trends, current conditions, and expected future developments. However, you should be aware that these forward-looking statements are only our predictions and we cannot guarantee any such outcomes. Future events and actual results may differ materially from the results set forth in or implied in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic and business conditions; exposure to market risks in our financial instruments; fluctuations in worldwide prices and demand for oil and natural gas; fluctuations in the levels of our oil and natural gas exploration and development activities; our ability to find, acquire and develop oil and gas properties, including the ability to develop the Lions Paw Pad prospects; risks associated with oil and natural gas exploration and development activities; competition for raw materials and customers in the oil and natural gas industry; technological changes and developments in the oil and natural gas industry; legislative and regulatory uncertainties, including proposed changes to federal tax law and climate change legislation, and potential environmental liabilities; our ability to continue as a going concern; and our ability to secure additional capital to fund operations. Additional factors that may affect future results are contained in our filings with the Securities and Exchange Commission ("SEC") and are available at the SEC's web site http://www.sec.gov. Cunningham Energy LLC disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.