Bayside Petroleum has renewed all leases on the Acleto Creek project. The leases contain 15 wells productive of oil from several sands ranging between the depths of 2,700' and 2,900'. Having renewed all of the leases, Bayside can now proceed with its plans to rework and re-complete most of the wells on the lease to significantly increase the daily oil production rates, in accordance with the recoverable reserves that are known to underlie the Acleto Creek leases.
Acleto Creek Field
The Acleto Creek field is located in Wilson County on a 148 acre lease with 15 wells that produce from a series of Poth sands occurring between the approximate depths of 2,750' and 2,900', and 1 saltwater disposal well. The field has accumulated in excess of 1.5 million barrels of oil. The wells will be re-completed in multiple zones and have the potential to produce as high as 200 barrels of oil per day. As well, this promising property has excellent potential for secondary recovery (water flooding) as there was a successful operation on a nearby lease.
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