USA Superior Energy Holdings, Inc., a company focused on the application of new technologies to increase volume and production in oil and gas wells, is providing an update of the eighth week in utilizing the company's workover rig program. As previously announced the company has 88 producing wells on approximately 1,200 acres on which the company is performing a two phase productivity improvement program.
The first phase, known as the stimulation phase, has been completed on 42 of the 88 wells. The 42 wells that have been stimulated are generating an average of more than 30 barrels per day as compared to the 20 barrels per day average produced prior to stimulation. This segment has provided sales of 1,600 barrels of crude for the month of February despite having a portion of the unstimulated wells in an unproductive state for 11 days while a workover rig was not in operation.
The total crude sales for January were just over 600 barrels. The substantial increase in productivity and resulting sales have prompted the company to begin the process of deploying a second workover rig. The company, as planned, has initiated its chemical program to remediate paraffin giving further stimulus to the company's daily production.
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