Print 
Horizon Energy Corporation has reported that workover operations are beginning on the Holmes Oil Unit Number 1 in Cherokee County, Texas.
The project is part of a joint operating agreement with Ponta E&P, LLP, to conduct oil and gas exploration on land located in a long established producing trend on the border of Cherokee and Rusk Counties, Texas.
The workover rig is expected to be on site within two weeks to commence operations. Vendors have been selected and contacted and other equipment and services are on standby.
“This project is a key part of Horizon’s overall development program, and we are pleased with the experienced team of professionals assembled to enhance our opportunities for success,” said Robert Bludorn, President and CEO of Horizon Energy Corporation.
Following an extensive review process involving the team’s key advisors, a new zone in the Holmes Oil Unit Number 1 has been identified to be productive through comparison with similar productive zones in nearby fields. This new zone will be perforated and hydraulically fractured and is expected to add additional reserves to the Holmes Oil Unit.
The Holmes Oil Unit Number 1 is located in an established producing trend productive from many different reservoirs since the 1930s. The area is experiencing renewed interest by oil and gas companies, and horizontal drilling and multi-stage hydraulic fracturing technology was initiated by one company in 2012 through the successful completion of three horizontal producers about 1.5 miles southwest of the Holmes property. The operator of the horizontal wells is now preparing to drill a fourth horizontal only one mile southwest of the Holmes lease that may prove up the area as a low risk resource play. Additional properties in the area are currently being evaluated.