By Ian Gilson, PhD, CFA
New Western Energy (NWTR) has reported that reworking and upgrading field equipment has increased oil production on the Winchester II lease in Oklahoma and on the Volunteer and Landers leases in Kansas.
The Winchester II lease has increased production by 50% to 6 BOPD by reworking existing wells. Further rework could increase production from this, and nearby, leases.
By upgrading monitoring equipment and swapping out several downhole pumps should double production from the Volunteer and Landers leases, from about 5 BOPD to 10 BOPD.
The use of fiberglass downhole tubing to replace the existing tubing will extend the life of the tubing and reducing operating costs.
Old wells that have not been pumped for a number of years may still extend down into a slowly replenishing geological structure. Reworking and modernizing these wells can provide a low cost source of oil within the existing infrastructure.
A copy of the full research report can be downloaded here >> New Western Energy Report
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