Houston American Energy Corp. (NYSE American: HUSA) today announced plans to participate in the drilling of six wells, each well consisting of an approximate 3 mile lateral, on the State Finkle Unit in the Wolfcamp formation in Reeves County, Texas.
EOG Resources will act as operator of the unit and is the principal working interest owner in the unit. The unit includes acreage subject to our existing O’Brien lease. We will hold an approximately 0.0078 working interest in the unit. The first well is scheduled to spud by June 30, 2024 with all six wells anticipated to be spud by September 1, 2024. Houston American’s cost of participating in the drilling program is estimated at $600,000.