Striker Oil & Gas, Inc. has filed a permit application with the State Of Louisiana to convert a temporarily abandoned well in the Welsh field to a salt water disposal well. This will allow Striker to bring several of its shut-in wells online which could double its existing Welsh field production. Welsh has been producing approximately 35 barrels of oil per day from two productive wells with an additional two wells ready to produce that have been shut in due to the inability to dispose of the salt water. Striker anticipates it will begin this conversion within the next 15-45 days depending upon rig availability. Payout of the conversion is expected in one month. The Welsh Field has additional development opportunities through recompletions and new drilling locations.
"This is an additional step for us to maximize our production capacity in the Welsh Field." said Kevan Casey, Chief Executive Officer of Striker, "We hope to have these additional wells online by our third fiscal quarter."
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