New Western Energy Corp. completed the acquisition of oil and gas leases in the Avant Field in Oklahoma, the company said Aug. 4.
The field in Osage County has 17 quarter sections on 2,720 contiguous acres. The field is a strong Bartlesville Formation production zone and has a proven section for waterflood applications. There will also be development for Mississippi production, and the Burgess, Cleveland, and Simpson formations are also targeted, New Western said.
Much of the leasehold’s historical production has been in the Bartlesville Formation, and during the waterflood operation, 30 barrels per day were produced. There are still vast areas for development, and the gas program has been shut in for several years.
“We are delighted to acquire this fertile and historically strong producing leasehold acreage,” said Javan Khazali, CEO. “Our initial work plan is to pump the existing producing wells and pull and repair wells we have targeted. During this preliminary production time, our geology team will analyze the logs and structure maps, as well as the production performance of the initial wells, to determine the location of our first drilling program,” he said.
“We plan to drill our first test wells to the Mississippi Lime Formation, which we believe will be a major zone of production and which will provide perspective on the upper formations. New Western remains committed to continue seeking and assessing oil and gas leases to acquire in Oklahoma,” he added.
New Western Energy Corp. is based in Irvine, Calif.
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