"With the successful start-up of this first high-impact well in Louisiana our patience has finally been rewarded," said Peter Rosenthal, Sonoran's president and CEO. "Initial production rates from the well are very encouraging, and these rates may increase on completion of the full work program."
"In addition, we have undertaken a major work program on a second high-impact well, which includes the removal of more than 1000 feet of stuck pipe and clean up of the well bore. The well will require further work before bringing it to production. We are now evaluating the experience and lessons learned before moving forward with the next phases."
Rosenthal added, "We took on a difficult, some might say impossible, task in re-activating these wells, given the depth of the problems associated with them. Much of the credit is due to the technical ability and competence of our personnel and partners in the field, and everybody's commitment to getting the well flowing. We have achieved a major milestone, taking a formerly inactive well and bringing it into production, and I am confident that we will soon see this success mirrored on our other Louisiana wells."
Frank T. Smith Jr., Executive VP and CFO commented, "The success of Louisiana well, Strickland 17 should translate to a material improvement in cash flow and provide additional financial flexibility for Sonoran as we proceed with the remainder of our Louisiana program."
Sonoran Energy is a U.S.-based independent oil and gas company that is building a diversified portfolio of high-value assets in North America, North Africa, the Middle East, and the Caspian region. Sonoran Energy explores, develops, and enhances the performance of high-value oil and gas opportunities.
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