PetroShare Provides Operations Update; to Present at the Rocky Mountain MicroCap Conference II
ENGLEWOOD, CO / ACCESSWIRE / April 23, 2018 / PetroShare Corp. (OTCQB: PRHR) ("PetroShare" or the "Company") today provided an update on its operated and non-operated activities in the Wattenberg Field and announced it will be presenting at the Rocky Mountain MicroCap Conference II, hosted by GVC Capital and Trickle Research, on Tuesday, April 24, 2018, at Coors Field in Denver, Colorado.
Operations Update
Frederick J. Witsell, President of PetroShare, commented, "Activity in the southern portion of the Wattenberg Field remains robust, and thus far in 2018 we have participated in 18 gross horizontal wells (1.6 net to PetroShare's interest) in the Company's Todd Creek Farms area. Most of these wells have been recently completed and are in early production, trending at, or above, our expected production type curves. In addition, the Company is participating in drilling operations on 8 gross horizontal wells in which PetroShare owns a working interest. We are monitoring the results of recently completed non-operated horizontal wells in which the Company has an interest, that is adjacent to our operated Shook Pad. The operator has increased the density of the wells to determine the optimal number of wells per spacing unit. In the event there is minimal wellbore interference, the increased density would result in a material addition to our proved operated inventory. Additionally, we are currently fracture stimulating the 14 gross wells on our operated Shook pad and, if all the wells are completed successfully, our daily production rate exiting June should range between 2,800-3,300 BOED. We continue to evaluate opportunities to increase our working interest ownership in our operated drill site spacing units and to increase our overall footprint in the Southern Wattenberg."
The Rocky Mountain MicroCap Conference II
PetroShare Corp's presentation will be made by President, Fred Witsell, who will be joined by Steve Foley, CEO, and Jon Kruljac, EVP of Capital Markets and IR. The Company's investor presentation will be accessible on the "Investor Relations" page of PetroShare's website, located at www.petrosharecorp.com
About PetroShare Corp.
PetroShare Corp. is an independent oil and natural gas exploration and development company that targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara/Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado. For more information, visit www.PetroShareCorp.com
Caution Concerning Forward-Looking Statements
This press release contains certain forward-looking statements and information, including "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information express, as of the date of this release, PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding future drilling and completion operating results, and the benefits that PetroShare expects from transactions and other plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant financial, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.
Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, actions of third parties over which we have no control, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected timeframes to receive the necessary permits, environmental risks and hazards, and other risks described in the Company's annual report on Form 10-K for the year ended December 31, 2017 and other filings with the Securities and Exchange Commission. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
CONTACT INFORMATION
Investor Relations Contacts
PetroShare Corp.
Jon B. Kruljac
303-520-7479
Email: jkruljac@petrosharecorp.com
SOURCE: PetroShare Corp.
