Phoenix Capital Group reports well performance in Williston Basin

The Phoenix Capital Group has reported an update on its Nate pad wells, located along the Divide/Williams county line in North Dakota have delivered results. The Nate pad includes five 3-mile horizontal wells in the Middle Bakken formation and began producing oil on 26 September 2024. The wells currently deliver about 725 barrels of oil per day (bopd) each, operating at a 40/64ths choke with a flowing tubing pressure of around 650 psi. At startup, these wells had 1,200 psi of shut-in tubing pressure.