Avalon Oil & Gas Inc. is an independent domestic oil and natural gas producer. The company’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows and production from a portfolio of oil and gas lease properties in Texas, Oklahoma, Louisiana and Arkansas.
Here is a brief overview of a few more of Avalon Oil & Gas properties:
Avalon has a property in Grant Parish, Louisiana. The Grant Parish leasehold consists of the Doris Hall and Fletcher leases. The company owns an undivided 25% interest in both the Doris Hall and Fletcher leases. The entire leasehold has six wells which were drilled in 1979 and had produced in excess of 200 barrels per day of oil. The wells, however, have been shut-in for several years. Avalon has managed to sell over 1,500 barrels of oil over the past six months from these wells.
Avalon also has a 0.7% working interest in the Lake Washington Field in Plaquemines Parish, Louisiana. This property is comprised of three producing wells which produce over 1,000 barrels of oil per day. This field was discovered over 80 years ago and since then has produced approximately 350 million barrels of oil, putting it among the largest oil and gas fields in the US. Avalon will be evaluating additional drilling opportunities in the field next year.
Turning to Texas, Avalon owns a fifty percent working interest in the E.A. Chance #1 and #2 wellbores, and associated 40 acre lease in Camp County, Texas. This is a mature property with these wells having been drilled during the 1950s. The #1 well is currently producing while #2 well is temporarily shut-in pending evaluation of a tubing leak. The #2 well is also under consideration for a conversion into a saltwater disposal well.
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