Precision Petroleum to Increase Production Capacity at Sharon #1 Well

Precision Petroleum has been advised by its technical consultants that a re-completion and deepening of the Sharon #1 well should enhance the production capacity. The Sharon well located in Garvin County, OK. was initially completed in the Oil Creek Sandstone.

Richard Porterfield, President and also a Petroleum Geologist, stated that he agrees with this recommendation and that the re-entry should double the open hole exposure to this prolific Sandstone reservoir. Mr. Porterfield also stated that current re-completion technology enables the operator to stimulate the existing pay-zone in addition to the reservoir expansion. The project will commence in late June.

The recent major upturn in crude oil and other commodity values is a major incentive to proceed with a comprehensive technical analysis for all of the Company's nine producing leases, to examine well enhancements and step-out drilling programs.
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Drilling Manager
Expertise: Drilling Manager|Drilling Superintendent
Location: Dallas, TX
 
Drill Rig Operator
Expertise: Driller|Production Operator
Location: Hayward, CA
 
Tool Pusher
Expertise: Field Service Tech|Toolpusher
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $56.43/BBL 0.40%
Light Crude Oil : $50.55/BBL 0.27%
Natural Gas : $2.95/MMBtu 5.44%
Updated in last 24 hours