Unicorp Acquires 60 Square Miles of 3-D Seismic in Abbeville Field

Unicorp has acquired 60 square miles of 3-D seismic in conjunction with the acquisition of additional working interests in the Abbeville Field located in Vermillion Parish, Louisiana. Unicorp intends to process the data and begin developing additional drilling prospects. The additional interests acquired in the Abbeville Field bring its total working interest to 95.38% in the C.P. Motty Well #7 and 72.70% in the C.P. Motty Well #8.

"Since acquiring our initial interests in the Abbeville Field in June 2005, we have experienced a constant stream of cash flow which matches our corporate goal of producing cash flow and enhancing our shareholder value," stated Carl A. Chase, CFO of Unicorp. "Production has remained fairly constant and we experienced only eight days of the wells being shut-in as a result of Hurricane Rita. The acquisition of the 3-D seismic will provide us the opportunity to evaluate additional prospects for drilling opportunities and provides us the means to locate and internally develop our own prospects in the future."


Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours