Encore Energy, Inc. Provides Berea Oil Operations Update; First Vertical Berea Oil Top-Hole Drilling Project in Lawrence County, Kentucky
BOWLING GREEN, KY. - In preparation for horizontal well operations, Encore Energy, Inc. is currently drilling multiple vertical top-holes to test the Upper Devonian Berea Sandstone off-set to verified, proven production. Horizontal Berea oil wells in this area have reportedly averaged in the range of ~100 - 150 BOPD over the initial 90 days of production where the well development costs are significantly lower, as compared to other plays across the US. Berea oil production from Lawrence County, Kentucky represents nearly 25% of the states total annual oil production.
“We are extremely pleased with the reservoir quality and future production potential we have seen from our vertical test, and are excited about horizontal well operations, said Steve Stengell, Encore’s President CEO. Although reliable production information is not available for the Berea play, at this time, we believe that ~30000+ barrels of oil equivalent (BOE) is a validated and realistic first-year per well production target, added Stengell.
Qualified SEC defined accredited investors can deduct 100% of their investment against all forms of income with years of potential income from production.
For more information, please contact Joseph Hooper at (270) 842-1242, ext. 224.
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