Helios Energy (ASX:HE8) has successfully fracked 4 stages across a 1,623 feet interval of the Presidio 52#1 well, and is now in the process of flowback.
The well was drilled to a total depth of 8,806 feet and encountered the Ojinaga Formation (primary target) and the Eagle Ford Shale Formation (secondary target) as well as two older (deeper) Cretaceous units, the Buda and Georgetown Formations (both secondary targets).
Helios Energy says its produced oil from all three wells it has drilled which have penetrated the Ojinaga Formation, and the oil analysis shows that the oil is sourced from the Eagle Ford Shale Formation.
Its share price closed up 6% today.