WW Energy announces the third well on the Gray Property to be re-entered and completed to produce oil and gas, using the same method that is being proposed on the existing two wells. This should increase the production by 25%-35%. When this well was commercially producing, it was producing 35 bbls. of oil per day.
WW Energy intends to do an additional study on the southern New Mexico oil and gas leases that would include Seismic, Geological and Physiological Surveys to determine the feasibility of drilling a very high-risk wildcat exploratory test well.
The potential for this well, if proven, would bear an enormous return. So, if WW goes forward with drilling arrangements and it proves to be a non-productive event, it would result in a total loss of infused capital, or potentially give the company and shareholders a major oil and gas discovery.
Most Popular Articles
From the Career Center
Jobs that may interest you