Fairway Resources III, LLC (“Fairway III”) announced that it recently completed its thirteenth horizontal well in the NW STACK play in Oklahoma, where the company has amassed its current position of approximately 36,000 net acres, primarily in Major and extreme southern Woods counties. Fairway III initiated a one-rig program in 2017 and has drilled nine Upper Osage, one Lower Osage and four Meramec wells to-date, with thirteen wells presently online. The company’s net production in the area currently exceeds 3,200 boepd (~55% oil).
Fairway III President & CEO, Matt Eagleston, commented, “We believe our assets sit in a sweet spot of the NW STACK play, with three good horizontal targets present across the bulk of our acreage. We are pleased with the results we have achieved thus far and are looking forward to putting our first Lower Osage well online in the next few days.”
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.