Exploration & Production | Water Treatment
Petron Drilling Saltwater Supply Well; Hopes to Up Oklahoma Production
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Petron Energy II, Inc. has commenced drilling operations on a saltwater supply well on its Snyder/Simon lease in Wagoner County, Oklahoma.
Floyd Smith, President and CEO of Petron Energy II, Inc., stated, "We are pleased to report this morning we began drilling operations on a saltwater supply well on our Snyder/Simon lease. The saltwater produced and injected from this well along with gas injections are key components in providing pressure needed to recreate reservoir drive. Based on our engineering design we estimate injecting roughly 1,000BSW/D and gas into the reservoir over a period of several months, as pressure is increased our daily oil production levels should begin to show sustained improvement. Once the reservoir has achieved its optimal level of reservoir pressure we anticipate seeing a peak in sustained daily oil production levels from the lease, our analysis estimate the daily range to be 50 -- 75BO/D.
"We are very excited to announce the beginning of procedures which will allow Petron II to experience full lease development and production operations. This lease is the first of three of our largest leases which we have budgeted for funding this year; all work for the Snyder/Simon should be completed by mid May.
"Our goal is to have the second lease fully operational by the end of June and the third lease completed by the end of August."