Xtreme O&G Pumps First Oil at W. Thrifty Texas Well
Xtreme Oil & Gas, Inc. has begun oil production at its 5 Star West Thrifty Texas property wells. The 1,200 acre site officially began production in the 1940's with Hess and Conoco.
"Management is excited with the commencement of oil production at our 5 Star West Thrifty site," stated Mr. Will McAndrew, CEO of Xtreme Oil & Gas. "With over 1,200 acres of land at the drill site, and previous production of over 8 million barrels of oil, we believe there is potential for significant oil production to continue throughout 2012 and beyond. Going forward, Xtreme Oil & Gas plans to implement these effective production and recovery methods throughout our entire portfolio of wells in Texas, Kansas and Oklahoma. We look forward to announcing the recovery of additional oil as we continue towards increasing our production in 2012. The Company is pleased to have hit our milestone of initial production by the end of February, and look forward to continuing our proven track record of success."
Recently the company announced the water flood injection method employed at the West Thrifty Texas property successfully created pressure and fluid recovery in the production wells. This injects water back into a reservoir, increasing pressure and stimulating oil production. The injections of water come from strategically placed wells and pumps that wash the trapped oil out of the formation towards the producing wellbores. As with most other wells using the water flood injection technique, its effective demonstration at the West Thrifty well has proven a precursor to successful oil production. Xtreme Oil and Gas has resolved to move forward with this technique as a result of its proven efficacy.