Unicorp Reports First Oil from Lee Walley
Unicorp, Inc. said late Monday that it has started producing oil from its Lee Walley Estate Well #1 located in Greene County, Mississippi. It will initially flow into the tanks and then will be put on pump. Once on pump Unicorp will have a more accurate estimate of what the potential is for this well but it is currently expected to produce approximately 100 barrels of oil per day. Unicorp is the designated operator of the project and has a 60% working interest and an approximate 46.8% net revenue interest.
"We are very happy that this prospect has only taken four months to start producing since we announced it," stated Arthur Ley, COO of Unicorp. "If this meets our expectations of approximately 100 BOPD then we will begin the process for identifying the second well location in Mississippi."
Unicorp, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on aggressively acquiring working interests in crude oil and natural gas properties with the intent of exploration and development or by enhancing production through the use of modern development techniques such as horizontal drilling, satellite technology and 3-D seismic. The company's goal is to achieve a high return on its investment by limiting its up-front acquisition costs, by quickly developing its acquisitions and by practicing a sound and smart approach to oil and gas exploration and development.
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- Unicorp Begins Operations at Pan American Fee Well in Louisiana (Sep 21)