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Jericho Works to Improve Production at MidContinent Wells
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Jericho Oil Corporation reported an operational update on its Oklahoma asset base, including its action plan in the first 100 days since year-end acquisitions.
Jericho acquired two assets located in Central Oklahoma with net production to Jericho totaling ~142 BOEPD (490 net BOEPD to the Partnership with Jericho Oil and its private partner as of Closing). The Company acquired a 50% working interest in a 10,000 acre asset and a 25% working interest in a 30,000 acre asset, and intends to acquire an additional 25% working interest in the larger asset to increase production an incremental ~100 BOEPD.
During the first 100 days, Jericho's operating and technical team began its initial efforts to improve the declining production rates within producing wells as well as manage operating expenses…
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