Imperial Resources, focused on low risk, domestic onshore oil and gas production via wholly-owned subsidiary, Imperial Oil & Gas, Inc., reported successful penetration into the target Ellenburger formation on its Green Tide SWDF (Salt Water Disposal Facility) well, which, at 7,500 feet, is now 600 feet into the formation.
The Green Tide SWDF is ideally positioned to facilitate huge amounts of salt water generated by extensive fracture stimulation by the many gas wells operating in the Barnett Shale; with some 6k such wells in just a 20-mile radius of the site.
The SWDF will be continued to a depth of 8,750 feet using the same six and three-quarter inch bits, with casing and cement then set in the 5,700 to 7,500 foot range. Up to 500 feet of additional drilling with a smaller, four and three-quarter bit will follow the casing operations, in order to maximize site capacity via access to several high-porosity strands in the Ellenburger.
The Company projects a $5M savings over building a new facility and anticipates rapidly being able to handle around 15k barrels a day.
In conjunction with the Company’s project in Oklahoma (in place to take 50% WI on a projected 7.5M BOE, 15 horizontal well program), the SWDF creates a powerful cash flow system with excellent logistical leverage.
These two operations are seen as key projects essential to the transformation of the Company and are in line with the same risk-averse strategy based on strict investment criteria that has allowed Imperial to progress to this point in its evolution. Fully intent on continuing to grow via such opportunities in low risk development projects on true resource plays, Imperial has its sights set on creating an impressive portfolio of domestic hydrocarbon industry assets.
For more information on the Green Tide SWDF project and the Company, please visit their website at www.imperialresourcesinc.com
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