Fairway Resources III, LLC (“Fairway III”) announced encouraging results from its ongoing artificial lift optimization program in the NW STACK play in Oklahoma. As part of this program, the company installed Electric Submersible Pumps (“ESP”) in two recently completed horizontal Mississippian wells, the Rich 4-32H and Sweet 1-34H.

The Rich 4-32H, located in extreme southern Woods County, is the first Lower Osage well drilled by Fairway III. Production initially peaked after 30 days on gas lift at 175 bopd and 90 mcfd. After installing the ESP, production jumped to a 30-day average of 555 bopd and 1,250 mcfd. Fairway III President & CEO, Matt Eagleston, commented, “The impressive performance of the Rich has given us even more encouragement about the significant potential of the Lower Osage across our acreage position in the NW STACK play.”

Fairway III next installed an ESP in the Sweet 1-34H, an Upper Osage well located in Major County. After one month on gas lift, production had peaked at 62 bopd and 26 mcfd. Since installing the ESP 23 days ago, production has steadily climbed to over 350 bopd and 580 mcfd, with further increases in production expected.

Fairway III Vice President of Operations, Rick Tompkins, remarked, “A high priority for all of our new wells in the NW STACK is to continually improve our artificial lift strategy. As we have put more wells online, it has become clear that the Upper and Lower Osage and Meramec formations are not “one-size-fits-all” when it comes to the optimal artificial lift method. With a thorough understanding of reservoir deliverability and bottom hole pressure, we are lifting each well more efficiently without impairing its long-term production.”

Fairway III is a privately-owned oil and gas company based in Southlake, Texas, backed by management and a large commitment from Denham Capital, an energy-focused global private equity fund.