The lease is spread over 320-acres, has 22 shallow wells, and is currently producing on an average 60 to 90 barrels of oil per month.
The company is doing a work-over and reactivation program to increase production, and expects to increase this production to 200 to 250 barrels per month in a year’s time.
So far 12 wells, 10 producers and two injectors have been reactivated, the company said.
TX Holdings has further bought an extra two acres with 2400 sq ft of storage facilities, located near the Parks Lease.
The company said that it will use the property to store its equipment used for maintenance and drilling.
