This journey commenced with our inaugural well, the first of five that were drilled. Little did we know, this was just the beginning of an extraordinary narrative, as our exploration efforts led us to uncover an impressive reserve of 8-10 million recoverable barrels of oil, guided by meticulous 2D seismic data analysis.
Marking a resounding achievement, our first well set the tone with a remarkable 100% success rate. Undeterred by challenges, we forged ahead, crafting a robust infrastructure and successfully drilling four additional wells that mirrored the triumph of their predecessor.
Now, as we proudly unveil a new video, our completed project stands as a testament to dedication and innovation. It encapsulates the culmination of our efforts, showcasing the journey from inception to achievement in all its glory.
Notably, our commitment extends beyond discovery, as we've diligently erected a comprehensive infrastructure and achieved a remarkable feat of drilling five consecutive wells, each boasting a flawless 100% success rate.
Our environmental responsibility shines through as we've taken significant strides to contribute to sustainable practices. In line with this, we're partnering with the local utility to recycle water, repurposing it for vital agricultural use.
Moreover, our innovation knows no bounds as we've harnessed the power of technology to capture flare gas and ingeniously convert it into electricity. This innovative approach significantly curtails our costs and unlocks the potential to derive value from what was once considered waste streams.
We have 6 more wells in the permitting process and plan on drilling another 20 wells on this location.
Energy Development Partners has identified thousands of acres of potential drill sites in Louisiana. All 1P proven wells with >90% recovery rates. All of our locations have millions of dollars of investment in supporting 3D data and very successful wells drilled by major oil and gas companies in the area of interest.
We also discovered a Deep Event lying entirely on a 42 square mile proprietary 3D. The structure could measure more than 5,000 acres or bigger. Using a recovery estimate of 1,000 million cubic feet per acre per foot of natural gas and 20 barrels per million cubic feet and a pay thickness of 100 feet, reserves at a minimum are estimated around 510 billion cubic feet of natural gas with an additional 10.2 million barrels of oil.
In our industry, the paramount role of data cannot be overstated. Through rigorous analysis of the fundamentals, we adeptly navigate risk mitigation.
Here, Stan and I are engrossed in a meticulous review of the well logs. Stan's legacy as the former head geologist at Occidental Petroleum speaks volumes – he stands as the visionary behind most of the initial discoveries for Occidental Petroleum in North American.. His expertise brings an unparalleled depth to our endeavors.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.