Tuesday, May 31, 2011
EGPI Firecreek Inc.
EGPI Firecreek announced the progress for two well workover programs in its recently acquired oil and gas interests in the Tubb Leasehold Estate located in the AMOCO/CRAWAR Field in Ward County, TX.
The Company via its operator and co-partner, Success Oil Co., Inc., has completed its workover program on the Crawar (Highland) #1, successfully perforating 200 feet in the Glorietta zone at approximately 3,700 to 3,900 ft., then acidizing-stimulating the depths perforated. Operations subsequently commenced clean up procedures for the well, and completed connections to the existing gas pipeline. Although preliminary reports are favorable, full production data has not yet been made available.
Additionally, the Company has initiated its work program for the Tubb 18-1 well located on the North 40 acres, having perforated select segments of both the Upper Clearfork zone at approximately 4,100 to 4,200 ft. and the Tubb zone at 4,517 to 4,600 ft. This week Success Oil will acidize and remove all the acid and water before executing a fracking procedure in order to stimulate the well formations prior to placing the well back into production.
Dennis Alexander, CEO and Chairman, stated, "We are very pleased with our recent progress in the Tubb Field and are extremely confident that there is a great opportunity ahead for significant expansion. Our Engineers and Operators have identified several good structures for additional oil and gas development in the Tubb field and we are now in negotiations to further develop these leases."
As previously reported, EGPI Firecreek's management is actively expanding its Oil & Gas and Alternative Energy divisions. Current and forecasted demand for both conventional and alternative energy sources are expected to present significant opportunities for the Company giving them the ability to expand their energy operations. EGPI continues to pursue proven production targets, acquisitions for oil & gas business, and strategic alliances for its Alternative Energy division.
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