New Western Energy recently issued an update on its oil and gas exploration and development activities in Texas.
The company announced the commencement of a workover development program on four wells located at the Trice Lease in Shackelford County, Texas. New Western Energy said that the workover program will focus on wells number one, three, sixteen, and eighteen, and involve running electricity and replacing pumps and other equipment.
New Western Energy acquired its interest in the Trice Lease through a recent acquisition of an oil and gas company. The Trice lease is comprised of 580 acres and has 24 oil wells and six wells used for water injection. New Western Energy expects the workover program to increase production from the Trice lease at a low cost and increase free cash flow. The wells on the Trice lease produce from the King Sand play, a sandstone formation present at depths ranging from 500 to 700 feet.
New Western Energy conducts the company’s exploration and production operations through Royal Texan Energy Co., a wholly owned subsidiary of the company. The company also has oil and gas properties in Stephens and Jones Counties in Texas.
For more information on the company, go to www.newwesternenergy.com
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