Highlands Natural Resources Plc (LON:HNR) told investors it is now moving ahead to flowback operations at the Wildhorse and Powell wells at the East Denver project in Colorado.
The company has now completed a fracking programme on the two wells, with each fractured 55 times. It is expected that both wells will begin production during the fourth quarter.
READ: Highlands Natural Resources gets more time to develop East Denver project
"The commencement of production at East Denver is a moment that the Highlands team and our dedicated investors have long-awaited,” said Robert Price, Highlands chief executive.
“In concert with our financial and technical partners, Highlands has advanced East Denver from a greenfield project to the successful completion of two wells.
“Looking ahead, we are excited about the potential to drill up to 22 additional wells at East Denver, and we eagerly await the results of Wildhorse and Powell. Highlands will update the market with production results as soon as they become available."
READ: Highlands Natural Resources kicks off fracking programme in Colorado
Detailing the immediate process, Highlands said it starts will operations to drill out plugs from the well, which will take 5-7 days, and the actual flows are anticipated to start before the end of October.