The agreement was entered into with an independent oil and gas company currently shooting 3D seismic on leases adjacent to and across a portion of EPiC leasehold. The agreement provides EPiC access to the seismic information covering its leasehold and potentially could provide additional low risk development drilling opportunities. It is anticipated that the seismic information will confirm the further extension of commercial quantities of hydrocarbons beyond the current estimated boundaries.
Rex Doyle, EPiC's Chief Executive Officer, stated, "This seismic activity is again another indication of the level of interest in this area of Rush County. We continue to believe in the long term value of our extensive lease position and gathering system we operate in the Area. A positive outcome from this seismic activity could substantially increase the general activity in the area and provide benefit to all operators."
EPiC also announced that the Reichel Field is currently under a curtailment due to work being undertaken by the area purchaser, a major pipeline company. EPiC is currently working with a number of companies developing alternative delivery plans.
EPiC Energy Resources is an independent integrated energy company based in The Woodlands, Texas. EPiC is focused on acquiring and developing mature oil & gas producing assets with low risk upside opportunities in recompletions, workovers, re-drills and field optimization. EPiC's integrated energy and infrastructure will provide additional opportunities by providing program management and operational management & consulting services to energy related projects within conventional and non-conventional market segments.
Most Popular Articles
From the Career Center
Jobs that may interest you