IRVING, Texas — Combined Development Oil Co. is pleased to announce the successful drilling and completion of the Louisiana State Trust #3 well located in southern Louisiana. Based on seismic analysis and drilling logs, the estimated barrels of oil in place are 1,200,000 MMcf) BO and the estimated natural gas in place is 1-3 Billion Cubic Feet of Gas (BCF). Initial measurements predict a flow rate of about 350 barrels of oil per day (BOPD) plus associated gas.
Drilling operations on Louisiana State Trust #3 commenced on December 5, 2006 and the well was logged December 5, 2006. The well encountered the objective UL-4 Upper Cris 1 Sands at a measured depth of 9,800′ and logged over 60′ of net pay. The Louisiana State Trust #3 should be turned to sales quickly, since it will be tied into an existing production facility.
Lee Anderson, President of Combined Development Oil Co., is pleased with the results and making plans for future operations in the area. “We have enough acreage to drill one additional developmental well in the immediate area and expect similar results from the offset location,” said Anderson.
TREND: The major producing sands in the field have already produced over 121,000,000 BO & 325 BCFG. More than a dozen wells in the surrounding area have produced more than one million barrels of oil each per completion with recoveries in excess of 800 barrels per acre-foot.
Combined Development Oil Co. was founded by Lee Anderson in (1994) on the principles of integrity, honesty and hard work. Combined Development Oil Co., Inc. (“CDOC”) is involved in the exploration, acquisition, development, and production of crude oil and natural gas reserves in and around Texas and Louisiana. Primarily through joint venture operations with industry partners, CDOC purchases, develops, drills, produces, owns and sells crude oil and natural gas. CDOC seeks to increase the value of acquired properties in its core areas through a combination of developmental drilling and proven engineering extraction practices.
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[tags]Combined Development Oil Co, oil exploration and drilling, Louisiana State Trust oil well[/tags]
