Shortly before the opening bell today, Strategic American Oil Corp. announced that it has successfully recompleted a “behind pipe” zone in its Welder #5 well located on the Welder Ranch in Calhoun County South Texas.
According to the press release, the Welder #5 was marginally profitable before the recompletion, but now it is flowing more than 310 Mcf of gas and 2 barrels of condensate per day without the aid of artificial lift. This well alone now contributes an estimated $22,000 in additional net monthly income to the company at current commodity prices.
“This recompletion is one of numerous projects we are undertaking to increase production and exploit our known oil and gas reserves, as well as increase our revenues and cash flow,” stated Steven Carter, Executive Vice President of Strategic American Oil Corporation.
The Company has a backlog of more than 15 existing wells for recompletion or rework to increase production, cash flow, and income. Strategic American Oil assured investors it will provide updates as information becomes available.
For additional information, visit www.StrategicAmericanOil.com
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