AXP Logs Hydrocarbons Across 300+ Feet in Mississippi Lime, Sets October Frac Date
AXP Energy has successfully logged hydrocarbons across several zones in its Charlie #1 well in Oklahoma and is preparing for hydraulic fracturing with production expected by the end of October.
- Successful wireline logging confirms hydrocarbons in multiple zones
- 5½-inch casing set and cemented on Charlie #1 well
- Planned multi-stage hydraulic fracturing targeting Mississippi Lime formation
- Production expected by late October 2025
- Additional wells planned on the lease over the next 12 months
Hydrocarbon Presence Confirmed in Charlie #1
AXP Energy Limited has announced a significant milestone in its Oklahoma operations with the successful completion of wireline logging and casing of the Charlie #1 well. The electronic logs have confirmed the presence of oil and gas across multiple geological zones, including the Oswego Lime, Mississippi Chat, Mississippi Lime, and Woodford Shale formations. These findings validate the prospectivity of the Edward Lease area in Noble County, where AXP holds a 100% working interest.
Next Steps, Hydraulic Fracturing and Production
Following the confirmation of hydrocarbons, AXP is advancing to the next critical phase, completing the well for production. The company is designing a staged hydraulic fracturing program focused primarily on the Mississippi Lime interval, a thick and laterally extensive formation that showed promising oil and gas shows over 260 feet. Hydraulic fracturing is scheduled to commence in the week starting October 20, with production expected by the end of the month. Initial flow rates will be closely watched as indicators of commercial viability.
Operational Efficiency and Future Plans
AXP’s Managing Director, Dan Lanskey, praised the efficiency and professionalism of the local contractors who helped achieve a tight drilling and casing schedule. The company’s confidence in the lease’s potential is underscored by plans to drill additional wells over the next 12 months, leveraging the extensive Mississippi Lime formation. This strategic approach aims to build on the initial success of Charlie #1 and expand production capacity in the region.
Broader Context and Market Implications
AXP Energy’s progress in Oklahoma complements its broader portfolio, including operations in Colorado and its innovative approach to repurposing stranded gas for power generation targeting high-performance computing clients. The successful development of Charlie #1 could enhance the company’s production profile and revenue streams, though the usual exploration risks remain. Investors will be keenly awaiting flow rate data post-fracturing to assess the commercial impact of this well.
Bottom Line?
As AXP moves toward production, the market will watch closely to see if Charlie #1 delivers on its promising early signs.
Questions in the middle?
- What initial flow rates will Charlie #1 deliver after hydraulic fracturing?
- How will AXP prioritize and finance the planned additional wells on the lease?
- What impact will Oklahoma production have on AXP’s overall growth strategy?
