The company has lined up three wells, with the locations currently being permitted and built.
The drilling rig is expected on site by the middle of October.
New Standard plans to use the drilling programme to increase production rates by “targeting longer laterals and higher proppant concentrations”.
The company has been working alongside Magnum Hunter Resources to reduce drilling costs.
New Standard managing director Phil Thick said the joint venture used data from wells drilled in the area to maximise the effectiveness of these wells.
“A combination of longer laterals, more frac stages and higher proppant concentration is moving wells [to a higher production rate],” the company.
“We are excited by the upside available to us and the potential production and reserves uplift.”