WW Energy to Acquire Producing Wells in Texas
Posted on: Wednesday, 23 January 2008, 03:00 CST
WW Energy, a holding company that was created to acquire oil and gas service companies as well as oil and gasrelated assets, has signed a letter of intent for the producing wells in Terry County, Texas, US.
WW Energy has the opportunity to purchase a working interest in the field mentioned above. This will give the company a cash flow of approximately $500,000 per month. The total field is producing approximately 2,150 barrels of oil and 3,985 million cubic feet per day.
More than 50 wells have been drilled since late 1999 with another two dozen wells identified to drill so far, some being development wells, and some wildcat.
The portfolio is ideally suited for a company seeking new exploration and development opportunities while enjoying strong cash flows being generated from executed projects to date.
Source: Datamonitor
Related Articles
- [Video] Dr. Horst A. Schmid, President and CEO of Deep Well Oil & Gas Discusses Contract to Drill Six Wells at Sawn Lake on WallSt.Net's 3-Minute Press Show
- Deep Well Oil & Gas Appoints New Board Member
- Tamm Oil Enters Into Share Exchange Agreement With Shareholders of Deep Well Oil & Gas
- Well-Oiled: Benz Oil Focuses on Supply to Keep Area's Machinery Running Smoothly
- Dr. Horst Schmid, President and CEO of Deep Well Oil and Gas Talks to The Wall Street Transcript
- Deep Well's JV Partner to Present at the 3rd Annual Canadian Oil Sands Summit-Raises $14.2 Million Dollars
- Habanero In Final Negotiations on Potential Multi-Well Oil and Gas Prospect In Alberta, Canada
- Surge Global Energy Inc. Spuds First Well at Sawn Lake and Validates the Farmout Agreement With Deep Well Oil & Gas Inc. And Northern Alberta Oil, LTD.
- Well Oiled
- Deep Well Oil & Gas Change of Auditors and Additional Corporate Information
 |
 |
User Comments (0)
RSS Feeds