Lonestar Resources US Inc. (NASDAQ: LONE) released its IP results from the first Eagle Ford Shale wells on its Hawkeye property in Gonzales County, Texas on Feb. 28.

The Hawkeye property consists of 6,257 gross (1,655 net acres). Hawkeye was acquired by Lonestar in the fourth-quarter of 2017 for $3.4 million. Under Lonestar’s operatorship, production from the existing producing wells has increased from 49 barrels of oil equivalent per day (boe/d) to 219 boe/d.

Lonestar has now completed its first two wells on the Hawkeye property. The Hawkeye leasehold contains 15 additional Eagle Ford Shale locations, most of which range in lateral length from 8,000 ft to 11,000 ft.

Lonestar owns an 87.5% working interest in the Hawkeye #1H well. The well was fracture stimulated with a total of 19.7 million lbs of proppant over a perforated interval of 10,910 ft (1,810 lbs per foot) in 36 stages.

The well tested at initial rates of 1,071 barrels per day of oil and 601,000 cubic feet per day (cf/d) of gas, or 1,209 boe/d on a three-stream basis. The Hawkeye #1H recently established Max-30 rates of 889 bbl/d of oil and 496,000 cf/d of gas, or 1,003 boe/d on a three-stream basis.

Lonestar also owns an 87.5% working interest in the Hawkeye #2H well. The well was fracture stimulated with a total of 15.6 million lbs of proppant over a perforated interval of 8,380 ft (1,867 lbs per foot) in 28 stages. The well tested at initial rates of 907 bbl/d of oil and 494,000 cf/d of gas, or 1,020 boe/d on a three-stream basis. The Hawkeye #2H recently established Max-30 rates of 773 bbl/d of oil and 432,000 cf/d of gas, or 872 boe/d on a three-stream basis.

“Getting off to an exceptional start to the year gives us increased confidence that we will deliver on our 2018 plan, resulting in a material increase in shareholder value,” Frank D. Bracken III, Lonestar’s CEO, said.