UPDA Announces Caitlin Production Startup
Production was recently commenced from the south end of the Universal Property Development and Acquisition Corporation Catlin Oil and Gas Field in Jack County, Texas. As anticipated, this production has resulted in the building of additional natural gas pressure in the pipeline and gathering system.
During the most recent 24-hour period, more than 250 mcf of gas was recorded through the sales meter.
"Although we have brought on-line only 3 of the more than 30 wells on the south end, the gas production from the field has more than doubled," reports UPDA Vice President Chris McCauley. "In addition to the gas from the south end, many of the wells on the north end have now turned to oil. Once we finish the work on the 10 wells of the Ruth lease, production of both gas and oil should continue to expand."
Within the next several days, the rate of well workovers should increase with the employment of a second rig and crew. Both rigs will be assigned to repair the promising wells of the Ruth lease in order that their production potential may be exploited as soon as possible.
The progress of these projects will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
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