Lightning, Matagorda County Texas
The Lightning gas/condensate field is located Onshore Matagorda County, Texas. Otto's Working Interest (WI) is 37.5%
The Green #1 well on the Lightning prospect in Matagorda County Texas commenced drilling in early
December 2018. The well reached total depth of 15,218ft MD (15,216ft TVD) in early February 2019 with wireline logs indicating 180 feet of net pay, significantly in excess of pre-drill expectations.
Through participation in the drilling of the Lightning exploration well, Otto earned a 37.5% working interest in
the leases covering the Lightning prospect.
Following the discovery, facilities were installed and the well was connected to a nearby sales gas pipeline.
Perforations and testing occurred during April and May with the well reaching steady state production.
As at 30 September 2019, the Lightning field is producing 11.5 MMscf/day in raw gas
and 332 bbl/day in condensate. Otto’s 37.5% Working Interest share is 4.3 MMscf/d and 125 bbls/d.
The first full month of hydrocarbon sales contribution was July 2019.
As announced on 8 October 2019, the Green #2 development well at the Lightning Field commenced drilling in October 2019 and is expected to be completed for production in early 2020.