West Texas Resources Outlines Reactivation Plan for 59 Wells Following Successful Well Test [Yahoo! Finance]
WEST TEXAS RESOURCES INC (WTXR)
NASDAQ:AMEX Investor Relations:
cnbc.com/west-texas-investors-club
Company Research
Source: Yahoo! Finance
details on its broader reactivation strategy for 59 legacy oil and gas wells across Texas . This follows the successful compliance test and restart readiness of one of its natural gas-condensate wells, announced September 30 WTXR recently acquired Texas Coastal Energy Corp. ("TCEC") through a reverse merger. The tested well, one of ten similar gas-condensate wells, showed strong pressure and high-value condensate output. Each well is expected to generate meaningful cash flow at minimal cost. Phase One of the restart program covers 59 wells in South and Southeast Texas . These assets were shut in by previous owners and mostly require only basic compliance work. Total cost for reactivation is estimated between and ,000—fully funded and covering tests, filings, and minor site adjustments. Initial regulatory approvals are expected soon, allowing the first 6–7 wells to be brought online within weeks. These wells are projected to generate approximately in monthly net revenue, or $1.2
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News
- West Texas Resources Outlines Reactivation Plan for 59 Wells Following Successful Well TestPR Newswire
- West Texas Resources Reports Successful Compliance Test; Highlights High-Value Condensate and Targets Initial Set of Ten Similar Wells [Yahoo! Finance]Yahoo! Finance
- West Texas Resources Reports Successful Compliance Test; Highlights High-Value Condensate and Targets Initial Set of Ten Similar WellsPR Newswire